Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. tom thompson expects to invest $17,000 at 15% and,

Tom Thompson expects to invest $17,000 at 15% and, at the end of a certain...

90.2K

Verified Solution

Question

Accounting

Tom Thompson expects to invest $17,000 at 15% and, at the end of a certain period, receive $79,091. How many years will it be before Thompson receives the payment? (PV of $1, FV of $1, PVA of $1, and FVA of $1)

Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.

Future Value Present Value Table Facor Years
$79,091 / 17,000 = 4.6524 ? years

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

You can buy 5 cans for green beans at the Village Market for 2 70...

Basic Math
Q

For synchronous generator to work at lagging PF and unity PF, which one have more efficiency?...

Electrical Engineering
Q

Four important measurements were taken in harsh environmental conditions. Two of the four measurements were lost...

Basic Math
Q

Request to solve the second order differential equation by range Range kutta 4th order method 8d^2y/dx^2-x^2+2y^2=0...

Advance Math
Q

2 Male hummingbirds defend feeding territories of nectar bearing flowers The plot below shows the...

Biology
Q

DNA sequences from an ancestral species and four modern species that evolved from it are...

Biology
Q

Each person has a 75% probability of going to the Tahoe restaurant. You randomly select...

Statistics
Q

I am always continuous and have a point inflection at the origin My range is...

Calculus
Q

Allocation Busters (AB) is a dispute mediation firm offering services to firms in...

Accounting
Q

Miller Company's contribution format income statement for the most recent month is shown below. Required:...

Accounting
Q

Take me to the text Lodrobe Company manufactures a single product: shirts. Lodrobe's shirts...

Accounting
Q

5. How the following risks affecting the financial institutions; a. Interest rate risk b. Technology...

Accounting