Jan is committed to investing $8,000 in her retirement accou…
Jan is committed to investing $8,000 in her retirement account at the beginning of each year for the next 40 years. The first investment will be made later today. If the investment will earn 6.8 percent, compounded annually, to the nearest dollar, how much will Jan’s investment be worth in 40 years?
Read DetailsLast week, Surety Links Manufacturing (SLM) issued $50 milli…
Last week, Surety Links Manufacturing (SLM) issued $50 million of new bonds to raise funds to support the company’s growth. SLM’s investment banker charged a 7 percent fee on the total amount of the issue to help the company issue the bonds. Other costs associated with the issue equaled $50,000. How much of the $50 million issue does SLM get to keep after paying all issuing costs?
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