Determine the final value of andrew investment

Reference no: EM131947115

1. Andrew invests $9,000 at the end of each year for 20 years. The rate of interest Andrew gets is 8% annually. Using the tables found in the textbook, determine the final value of Andrew's investment at the end of the twentieth year on this ordinary annuity.

A. $411,588.00

B. $411,858.00

C. $88,362.90

D. $88,632.90

2. A new piece of equipment costs $18,000 with a residual value of $600 and an estimated useful life of five years. Assuming twice the straight-line rate, the book value at the end of Year 2 using the declining-balance method is

A. $18,000.

B. $11,520.

C. $7,200.

D. $6,480.

Reference no: EM131947115

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