For the year ending December 31, 2017, sales for Corporation Y were $68.01 billion. Beginning January 1, 2018 Corporation Y plans to invest 7.5% of their sales amount each year and they expect their sales toincrease by 6% each year over the next three years.Corporation Y invests into an account earning an APR of 1.4% compounded continuously. Assume a continuous income stream.How much money will be in the investment account on December 31, 2020?Round your answer to three decimal places.billion dollarsHow much money did Company Y invest in the account between January 1, 2018 and December 31, 2020?Round your answer to three decimal places.billion dollarsHow much interest did Company Y earn between January 1, 2018 and December 31, 2020?Round your answer to three decimal places. If intermediate values are used, be sure to use the unrounded values to determine the answer.billion dollarsSubmit AnswerView Previous Question Question 10 of 10HomeMy Assignments+Request Extension9:42 PMW)67°F Rain to stopみ10/3/2021

Given sales are 68.01billion as on December 31 2017 and increase @ 6 % every year. Investment @ 7.5%…

Answered: For the year ending December 31, 2017,…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter4: Financial Planning And Forecasting

Section: Chapter Questions

Problem 7P

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Assume that $105.04 invested today will grow to $2,639.23 at the end of 38 quarters. Given this info, determine the effective annual interest rate being earned on this investment.

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