This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Autorola plans to invest money today at an interest rate of 6 compounded annually to have 40,000 ... (Read 167 times)

Metfan725

  • Hero Member
  • *****
  • Posts: 552
on: Jul 11, 2018
Autorola plans to invest money today at an interest rate of 6 compounded annually to have 40,000 available for the purchase of a car four years from now. How much does the firm need to invest today?
 
  A) 50,499.08
  B) 36,384.52
  C) 31,683.75
  D) 9,143.66

Question 2

Which of the following is not a home equity scam?
 
  A)
 
  Equity stripping
  B)
 
  Loan flipping
  C)
 
  Red lining
  D)
 
  Bait and switch


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kardosa007

  • Sr. Member
  • ****
  • Posts: 300
Reply #1 on: Jul 11, 2018
Answer to Question 1

C
Explanation: C) Via Calculator: N = 4, I =6, FV = 40,000, Solve for PV = 31,683.75.

Answer to Question 2

C


Metfan725

  • Member
  • Posts: 552
Reply 2 on: Jul 11, 2018
Great answer, keep it coming :)

tuate

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

The ozone hole in September, 2003. Even as scientists verified that the rate of ozone depletion was The ozone hole in September, 2003. Even as scientists verified that the rate of ozone depletion was
Medicinal leeches on a patient’s neck. Today leeches are sometimes used in microsurgery to prevent b Medicinal leeches on a patient’s neck. Today leeches are sometimes used in microsurgery to prevent b
Masaccio, The Tribute Money. Masaccio, The Tribute Money.
The rate of facilitated diffusion The rate of facilitated diffusion
Nick buys a $25 000, 5.4% bond with quarterly interest coupons, 3 years before maturity, to ... Nick buys a $25 000, 5.4% bond with quarterly interest coupons, 3 years before maturity, to ...
Chelsea Donahue has a​ 20-year home mortgage of ​78,000 at​ 7.50% interest and will pay ... Chelsea Donahue has a​ 20-year home mortgage of ​78,000 at​ 7.50% interest and will pay ...
Video: Studying the Left and Right Brain Independently

For a complete list of videos, visit our video library