An a& e firm planning for a future expansion depoisted $30,000 each year for 5 years into a sinking (investment) fund that was to pay an unknown rate of return. if the account had a total of $450,000 immediately after the fifth depoist, what rate of return did the company make on these depoists?

Ans. This company rate of return is 57.07% annual

Step-by-step explanation:

Hi, well, we need to set the following equation with the data of our problem. The equation as follows.

Where:

A= $30,000

n= 5

r= the rate that we are looking for

Everything should look like this

Now, you can see how hard it is to solve this equation for "r", therefore we go to MS excel so we can use the function "Seek Goal". Please see the attached excel spread sheet.

The instructions to the "seek goal" function are as follows.

Set Cell:                 C5

To Value:         450000

By changing cell:C4

The result is in yellow.

Ans. 57.07% annual

Best of luck.

step-by-step explanation:

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