Answered: What is the future value on January 1,…

What is the future value on January 1, 2025, of $20,000 deposited on January 1, 2019, which accumulates interest at 10% compounded annually? _____________________

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 10RE: If 90,000 is invested in a fund on December 31, 2019, and 5 equal annual withdrawals of 23,138.32...

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What is the future value on January 1, 2025, of $20,000 deposited on January 1, 2019, which accumulates interest at 10% compounded annually? ____________________________

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So, is the book value at the end of 2019 90,000,000?