httpsedugen wileypluscomedugenstudentmainfruni Wiley S Kieso

https://edugen wileyplus.com/edugen/student/mainfr.uni Wiley S Kieso, Intermediate Accounting, 16e ctice Gradebook ORION Downloadable eTextbook ment Multiple Choice Question 1o0 Vaughn Manufacturing will invest $79000 every January 1st for the next six years (2017- 2022). If Vaughn will earn 99 investment fund on December 31, 20222 Click here to view factor tables $647834. $386284 $594344. $354389 Click if you would like to Show Work for this question: Modify Show Work Question Attempts: 2) 9-3011-8546-10354adde41e), viewAssignment(asnmt2247915;:1.2

Solution

1. Formula for calculating future value with a fixed set of installments

A = [P x ((1+r)^n - 1) / (r)]

where, P = Fixed amount per period, r = rate of interest for that period, n = no of instalments

Therefore, A = [79000 x (1 + 0.09)^6 - 1) / (0.09)] = 594.343.43 or we can say 594,343. So the correct answer is option C.