Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. present value and future value joshua inc. estimat

present Value and Future Value Joshua Inc. estimates that it will need $225,000 in 9...

70.2K

Verified Solution

Question

Accounting

present Value and Future Value

Joshua Inc. estimates that it will need $225,000 in 9 years to expand its manufacturing facilities. A bank has agreed to pay Joshua 6% interest compounded annually if the company deposits the entire amount now needed to accumulate $225,000 in 9 years.

Use the appropriate present or future value table:

FV of $1, PV of $1, FV of Annuity of $1 and PV of Annuity of $1

Required:

How much money does Joshua need to deposit now? Be sure to use all digits shown on the table and round your answer to a whole dollar. $_____________________

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A cylinder with a piston contains 0.160 mol of nitrogen at 1.80×105 Pa and 310 K...

Physics
Q

What are the differences in cultural, political, and economic systems among countries that can lead to...

General Management
Q

Recombination within which type of inversion heterozygote results in a dicentricchromosome? Why does a dicentric...

Biology
Q

Which of the following is a major difference between the chondrichthyans and the ray finned...

Biology
Q

Find the value of x Y 5 5 T P A 5 5 B 1...

Geometry
Q

n P let p z g x p 1 q 1 p 0 q 0...

Algebra
Q

of linear equation Benjamin s Backpacks can sell backpacks for 3 per backpack drovenue equations

Algebra
Q

Calculate and Document Federal and State Income Tax WithholdingCalculate federal and state income...

Accounting
Q

Exercise 11-2 Blossom Company had these transactions during the current period. June...

Accounting
Q

Company produces three products: Product A, Product B, and Product C. During the...

Accounting
Q

IFRS 3 states that an acquirer discloses information that enables users of its financial statements...

Accounting
Q

Question 1. Bond investments (14 marks) The following bond transactions occurred during the year of...

Accounting