1 on january 1 2016 a company agrees to pay 21000 in seven, Ask an Expert

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1. On January 1, 2016, a company agrees to pay $21,000 in seven years. If the annual interest rate is 7%, determine how much cash the company can borrow with this agreement. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)

2. Mark Welsch deposits $7,600 in an account that earns interest at an annual rate of 8%, compounded quarterly. The $7,600 plus earned interest must remain in the account 4 years before it can be withdrawn. How much money will be in the account at the end of 4 years?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92773483

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