A solving for n how many years will it take for 520 to grow, Ask an Expert

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a) (Solving for n) How many years will it take for $520 to grow to $1058.91 if it's invested at 8 percent compounded annually? (Round to one decimal? place.)

b) (Present value) Ronen Consulting has just realized an accounting error that has resulted in an unfunded liability of $395,000 due in 26 years. In other words, they will need $395,000 in 26 years. Toni Flanders, the company's CEO, is scrambling to discount the liability to the present to assist in valuing the firm's stock. If the appropriate discount rate is 7 percent, what is the present value of the liability? (Round to the nearest cent.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92857885

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