1. Mel company earns 12% on an investment that will return $500,000 eleven years from...
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1. Mel company earns 12% on an investment that will return $500,000 eleven years from now. What is the Amount that Mel company should invest now to earn this rate of return?
2. Jackson company has decided to begin accumulating a fund for plant expansion. The company deposited $20,000 in a fund on January 2, 2008. Jackson will also deposite $10,000 annually at the end of each year, starting in 2008. The fund pays interest at 5% compounded annually. WHat is the balance of the fund at the end of 2012 (after the 2012 deposit)?
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