Solved

The Following Investment Requires Table Factors for Periods Beyond the Table

Question 93

Short Answer

The following investment requires table factors for periods beyond the table. Create the new table factor, rounded to five decimal places, and calculate the compound amount, rounding to the nearest cent:  Term of  Nominal  Interest  New Table  Compound  Principal  Investment  Rate  Compounded  Factor  Amount $38,50015 years 10% semiannually \begin{array} { l l l l l l } & \text { Term of } & \text { Nominal } & \text { Interest } & \text { New Table } & \text { Compound } \\\text { Principal } & \text { Investment } & \text { Rate } & \text { Compounded } & \text { Factor } & \text { Amount } \\\$ 38,500 & 15 \text { years } & 10 \% & \text { semiannually } & ------& -----\\\end{array}

Correct Answer:

verifed

Verified

4.32195; $...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents