Saturday

December 20, 2014

December 20, 2014

Posted by **zeenat** on Monday, July 22, 2013 at 8:51am.

- finance (math) -
**Reiny**, Monday, July 22, 2013 at 8:55amis 75000(1.05)^ 15 more or less than 214000 ?

- finance (math) -
**zeenat**, Monday, July 22, 2013 at 9:23amit's more than 214000.

- finance (math) -
**Reiny**, Monday, July 22, 2013 at 10:34amnope,

75000(1.05)^15

= 75000(2.0789..

= 155919.61 < 214000

so it would not be enough

- finance (math) -
**James**, Saturday, October 26, 2013 at 4:37pmWhere are you getting the 1.05 from?

- finance (math) -
**James**, Saturday, October 26, 2013 at 4:39pmIf you just use the Table of Future Value Factors, you'll see that 5% at 15 years is 2.079. Therefore, 75,000 * 2.079 = 155,925. I am really confused as to where the 1.05 comes from...

- finance (math) -
**James**, Saturday, October 26, 2013 at 4:41pmnevermind... it's the same as 5%. I get it.

**Answer this Question**

**Related Questions**

FIN1103-39 - You think in 15years, it will cost $214,000 to provide your child ...

finacne - cYou think that in 15 years it will cost $214,000 to provide your ...

Finance - the cost in 15 years is 214,000 to provide a college education. Can I ...

math - You think that in 15 years it will cost $212,000 to provide your child ...

Finance - Professor Anderson has a daughter who is 3 years old. In 15 years she ...

Finance - Professor Anderson has a daughter who is 3 years old. In 15 years she ...

Finance - Your firm has the option of making an investment in new software that ...

math - Your firm has the option of making an investment in new software that wil...

Math - Finance - Product A This product will take 2 years to develop, at a cost ...

Corporate Finance - Your firm is looking at 3 projects, each costing $500,000: A...