I remember having this stuff in accounting and finance butforgot how to do it. P
ID: 2444393 • Letter: I
Question
I remember having this stuff in accounting and finance butforgot how to do it. Please help!! In preparing to start your own business in 6 years, you planto invest 10% of your salary each month in an account with a fixedrate of return of 5.3%. You currently make $3000 per month andexpect your income to increase by $500 per year. A) If you start investing now, to what amount will youraccount grow in 6 years, assuming continuous stream. B) how much would you have to invest now in one lump sum,instead of the continuous stream, in order to build to the same 6year future value I remember having this stuff in accounting and finance butforgot how to do it. Please help!! In preparing to start your own business in 6 years, you planto invest 10% of your salary each month in an account with a fixedrate of return of 5.3%. You currently make $3000 per month andexpect your income to increase by $500 per year. A) If you start investing now, to what amount will youraccount grow in 6 years, assuming continuous stream. B) how much would you have to invest now in one lump sum,instead of the continuous stream, in order to build to the same 6year future valueExplanation / Answer
j