You makes these payments for 15 years after your last, Financial Management

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You makes these payments for 15 years after your last

1. At the end of each month, you invest $100 into a fund that accumulates interest at 3% convertible monthly. You makes these payments for 15 years. After your last payment, what is the accumulated value in the fund?

2. The 2014 balance sheet of Sugarpova’s Tennis Shop, Inc., showed long-term debt of $6.2 million, and the 2015 balance sheet showed long-term debt of $6.6 million. The 2015 income statement showed an interest expense of $170,000.

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