# For the year ending December 31, 2017, sales for Corporation Y were $60.61 billion. Beginning January... ###### Question: For the year ending December 31, 2017, sales for Corporation Y were$60.61 billion. Beginning January 1, 2018 Corporation Y plans to invest 8.5% of their sales amount each year and they expect their sales to increase by 4% each year over the next three years.

Corporation Y invests into an account earning an APR of 1.3% compounded continuously. Assume a continuous income stream.

How much money will be in the investment account on December 31, 2020?

How much money did Company Y invest in the account between January 1, 2018 and December 31, 2020?

How much interest did Company Y earn between January 1, 2018 and December 31, 2020?
Round your answer to three decimal places. If intermediate values are used, be sure to use the unrounded values to determine the answer. billion dollars

#### Similar Solved Questions

##### Problem 7-16 Interest Rate Risk [LO2] Both Bond Sam and Bond Dave have 7 percent coupons,...
Problem 7-16 Interest Rate Risk [LO2] Both Bond Sam and Bond Dave have 7 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has four years to maturity, whereas Bond Dave has 15 years to maturity. If interest rates suddenly rise by 2 percent, what is the percentage chang...
##### To what extent is speech production and perception found to correspond to specific cortical loci in...
To what extent is speech production and perception found to correspond to specific cortical loci in the brain? What evidence is there that each process (production and perception) works independently but also cooperatively?...
##### Consider the following data set 14.8 7.2 8.7 9.6 13.1 13.8 7.5 10.1 9.9 9.9 11.9...
Consider the following data set 14.8 7.2 8.7 9.6 13.1 13.8 7.5 10.1 9.9 9.9 11.9 4.7 14.8 8.1 10.6 3.8 4.6 12.5 7.9 6.6 10.3 13.3 7.26.8 7.3 7.2 8.7 5.2 5.2 13.1 Click here for the Excel Data File a. Construct the frequency distribution using classes of 3 up to 5, 5 up to 7, etc. Class Frequency 3 u...
##### AFTER TAX SALVAGE VALUE Karsted Air Services is now in the final year of a project....
AFTER TAX SALVAGE VALUE Karsted Air Services is now in the final year of a project. The equipment originally cost $20 million, of which 80% has been depreciated. Karsted can sell the used equipment today for$5 million, and its tax rate is 30%. What is the equipment's after-tax salvage value? Ro...
##### Helping Hand Outdoor Services pre-sells yard maintenance packages for the gardening season. During October, the company...
Helping Hand Outdoor Services pre-sells yard maintenance packages for the gardening season. During October, the company collect cash from clients for Christmas trees to be delivered in December. Snow removal services are also provided. Helping Hand prepares adjusting entries monthly. The following s...
##### Acids and Bases 1) Which of the following is a general property of a basic solution?...
Acids and Bases 1) Which of the following is a general property of a basic solution? a. feels slippery b pH less than 7 c. tastes sour d. turns litmus paper red e. none of the above 2) If a vinegar sample has a pH of 5, the solution is which of the following: a. strongly acidic b. weakly acidic c ne...
##### Please help! Fort Company issued 5,500 of its $1,000 par value bonds for$1,520, providing total...
Please help! Fort Company issued 5,500 of its $1,000 par value bonds for$1,520, providing total cash proceeds of $8,360,000. The market price of Fort's common shares on the date that it issued the bonds was$22 per share. It sold the bonds with 385,000 detachable warrants to acquire 385,000 sh...
##### 4. Two different compounds having the elemental composition C8H13Br are formed when 1,6-dimethylcyclohexene reacts with hydrogen...
4. Two different compounds having the elemental composition C8H13Br are formed when 1,6-dimethylcyclohexene reacts with hydrogen bromide in the dark and in the absence of peroxides. The same two compounds are formed from 1,2- dimethylcyclohexene. What are the chemical structures of these two product...
##### Debits Fauipment Patent (net) The following is a December 31, 2021, post-closing trial balance for Almway...
Debits Fauipment Patent (net) The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Credits Cash \$ 75,000 Investment in equity securities 140,000 Accounts receivable 75,000 Inventory 215,000 Prepaid insurance (for the next 9 months) 7,000 Land 120,000...