For the year ending December 31, 2017, sales for Corporation Y were $67.81 billion. Beginning January 1, 2018 Corporation Y plans to invest 9.5% of their sales amount each year and they expect their sales to increase by 7% each year over the next three years. Corporation Y invests into an account earning an APR of 2.0% compounded continuously. Assume a continuous income stream. How much money will be in the investment account on December 31, 2020? Round your answer to three decimal places. billion dollars How much money did Company Y invest in the account between January 1, 2018 and December 31, 2020? Round your answer to three decimal places. billion dollars
For the year ending December 31, 2017, sales for Corporation Y were $67.81 billion. Beginning January 1, 2018 Corporation Y plans to invest 9.5% of their sales amount each year and they expect their sales to increase by 7% each year over the next three years. Corporation Y invests into an account earning an APR of 2.0% compounded continuously. Assume a continuous income stream. How much money will be in the investment account on December 31, 2020? Round your answer to three decimal places. billion dollars How much money did Company Y invest in the account between January 1, 2018 and December 31, 2020? Round your answer to three decimal places. billion dollars
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 11P: Negus Enterprises has an inventory conversion period of 50 days, an average collection period of 35...
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For the year ending December 31, 2017, sales for Corporation Y were $67.81 billion. Beginning January 1, 2018 Corporation Y plans to invest 9.5% of their sales amount each year and they expect their sales to increase by 7% each year over the next three years.
Corporation Y invests into an account earning an APR of 2.0% compounded continuously. Assume a continuous income stream.
How much money will be in the investment account on December 31, 2020?
Round your answer to three decimal places.
billion dollars
How much money did Company Y invest in the account between January 1, 2018 and December 31, 2020?
Round your answer to three decimal places.
billion dollars
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