In: Accounting
What is the future value of 15 periodic payments of $35,000 each made at the end of each period and compounded at 12%? Instead of investing the entire $3,000,000, Bogut invests $580,000 today and plans to make 9 equal annual investments into the fund beginning one year from today. What amount should the payments be to establish the $5,997,000 Tony the Tank Foundation at the end of 9 years? Adam Bryant invests $32,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Adam withdraws the accumulated amount of money, Compute the amount Adam would withdraw assuming the investment earns interest compounded semiannually.