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Author Question: Autorola plans to invest money today at an interest rate of 6 compounded annually to have 40,000 ... (Read 112 times)

Metfan725

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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


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kardosa007

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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

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Reply 2 on: Jul 11, 2018
Great answer, keep it coming :)

mjenn52

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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