The following investment requires a table factor for a period beyond the table. Calculate the...
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Accounting
The following investment requires a table factor for a period beyond the table. Calculate the new table factor and the present value (principal). Use Table 11-2 round your new table factor to five decimal places and your present value to the nearest cent.
Compound Amount
Term of Investment (years)
Nominal Rate (%)
Interest Compounded
New Table Factor
Present Value
$34,000
38
7
annually
$
The following investment requires table factors for periods beyond the table. Using Table 11-1, create the new table factor, rounded to five places, and calculate the compound amount (in $, rounded to the nearest cent.)
Principal
Time Period (years)
Nominal Rate (%)
Interest Compounded
New Table Factor
Compound Amount
$16,000
29
7
annually
$
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