Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Our platform connects you with professionals ready to provide precise answers to all your questions in various areas of expertise. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Your company just sold a product with the following payment​ plan: $40,000​ today, $35,000 next​ year, and​ $30,000 the following year. If your firm places the payments into an account earning​ 6% per​ year, how much money will be in the account after collecting the last​ payment?

Sagot :

Answer:

the money that will be in the account after collecting the last​ payment is $112,044

Explanation:

The computation of the money that will be in the account after collecting the last​ payment is shown below:

Amount  is

= $40,000 × (1.06)^2 + $35,000 × (1.06) + $30,000

= $112,044

Hence, the money that will be in the account after collecting the last​ payment is $112,044

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.