Answered: 1. Sue now has $125. How much would she…

Foundations of Business - Standalone book (MindTap Course List)

4th Edition

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter15: Using Management And Accounting Information

Section: Chapter Questions

Problem 5DQ

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Please answer along with the excel formulas -

1. Sue now has $125. How much would she have after 8 years if she leaves it invested at 8.5% with annual compounding?

$205.83

$216.67

$228.07

$240.08

$252.08

2. Suppose you have $1,500 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures?

$1,781.53

$1,870.61

$1,964.14

$2,062.34

$2,165.46

3. Last year Rocco Corporation's sales were $225 million. If sales grow at 6% per year, how large (in millions) will they be 5 years later?

$271.74

$286.05

$301.10

$316.16

$331.96

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