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Your company just sold a product with the following payment​ plan: $40,000​ today, $35,000 next​ year, and​ $30,000 the following year. If your firm places the payments into an account earning​ 6% per​ year, how much money will be in the account after collecting the last​ payment?

Respuesta :

Answer:

the money that will be in the account after collecting the last​ payment is $112,044

Explanation:

The computation of the money that will be in the account after collecting the last​ payment is shown below:

Amount  is

= $40,000 Ă— (1.06)^2 + $35,000 Ă— (1.06) + $30,000

= $112,044

Hence, the money that will be in the account after collecting the last​ payment is $112,044

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