Chris Mann will deposit $22,400 into an account today that earns 10% per year compounded annually.Using the following factors,what is the amount that will be in the account at the end of the 5 years?
$$\begin{array}{lllr}
\text{Type of cash flow} & \text{n Periods} & \text{i Interest rate} & \text{ Factor } \
\hline \text{PV of \$ 1} & 5 & 10 \% & .62092 \
\text{FV of \$ 1} & 5 & 10 \% & 1.61051 \
\text{PV ordinary annuity} & 5 & 10 \% & 3.79079 \
\text{FV ordinary annuity} & 5 & 10 \% & 6.10510 \
\text{PV annuity due} & 5 & 10 \% & 4.16986
\end{array}$$

Question

Chris Mann will deposit $22,400 into an account today that earns 10% per year compounded annually.Using the following factors,what is the amount that will be in the account at the end of the 5 years?
 $$\begin{array}{lllr} 
\text{Type of cash flow} & \text{n Periods} & \text{i Interest rate} & \text{ Factor } \
\hline \text{PV of  \$ 1}  & 5 & 10 \%  & .62092 \
\text{FV of  \$ 1}  & 5 & 10 \%  & 1.61051 \
\text{PV ordinary annuity} & 5 & 10 \%  & 3.79079 \
\text{FV ordinary annuity} & 5 &  10 \%  & 6.10510 \
\text{PV annuity due} & 5 &  10 \%  & 4.16986
\end{array}$$

Quizplus · Accepted Answer

The Answer of Chris Mann will deposit $22,400 into an account today that earns 10% per year compounded annually.Using the following factors,what is the amount that will be in the account at the end of the 5 years?
 $$\begin{array}{lllr} 
\text{Type of cash flow} & \text{n Periods} & \text{i Interest rate} & \text{ Factor } \
\hline \text{PV of  \$ 1}  & 5 & 10 \%  & .62092 \
\text{FV of  \$ 1}  & 5 & 10 \%  & 1.61051 \
\text{PV ordinary annuity} & 5 & 10 \%  & 3.79079 \
\text{FV ordinary annuity} & 5 &  10 \%  & 6.10510 \
\text{PV annuity due} & 5 &  10 \%  & 4.16986
\end{array}$$

Chris Mann Will Deposit $22,400 into an Account Today That