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Your company has placed $197,000 in an investment account to help with long-term expansions plans. How...

Your company has placed $197,000 in an investment account to help with long-term expansions plans. How many years will it take for the $197,000 to grow to be $554,000 in total if it is invested in an account with a quoted annual interest rate of 6%? Round your answer to two decimal places.

Your company would also like to be able to withdraw $10,000 for each of the next nine years, and also to be able to withdraw a sum of $50,000 ten years from today. The return on the investment is expected to be 8%. What is the amount that needs to be invested today?

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jeff jeffy answered 2 years ago
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