Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you have deposited $18,630 in a special account th

You have deposited $18,630 in a special account that has a guaranteed rate of return....

50.1K

Verified Solution

Question

Accounting

image
You have deposited $18,630 in a special account that has a guaranteed rate of return. If you withdraw $3,000 at the end of each year for 8 years, you will completely exhaust the balance in the account. The guaranteed rate of retum is closest to: (Ignore income taxes.) Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided. (Round your intermediate calculations to 3 decimal places.)

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

Mars Inc. is considering the purchase of a new machine that costs $80,000. This machine will...

Finance
Q

The slums of America were located where in the 1950s?A. farming areasB. suburbsC. rural areasD....

Biology
Q

A cylindrical container is filled with water upto the brim If the pressure exerted by...

Physics
Q

23 m 4 5x m 5 4 x 5 24 m 2 4x 3 m27...

Geometry
Q

Solve the initial value problem 2 x y 3y 0 Assuming that the solution is...

Calculus
Q

Use the intermediate value theorem to verify the given polynomial has at least one zero...

Calculus
Q

Determine the average rate of return for a project that is estimated to yield total...

Accounting
Q

P 10-7 (similar to) Question Help * Sora Industries has 62 million outstanding shares, $120...

Accounting
Q

A machine costing $209,800 with a four.year life and an estimated $17,000 salvage vafue is...

Accounting
Q

Pharoah Incorporated leases a piece of machinery to Sheffield Company on January 1, 2020, under...

Accounting
Q

A portfolio consists of two types of loans. The first is a $30 million loan...

Finance
Q

1. Bowl Bi contains 2 white chips, bowl B2 contains 2 red chips, bowl Ba...

Accounting