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

Author Question: Nancy would like to accumulate 10,000 by the end of 3 years from now to buy a sports car from her ... (Read 106 times)

jhjkgdfhk

  • Hero Member
  • *****
  • Posts: 569
on: Jul 10, 2018
Nancy would like to accumulate 10,000 by the end of 3 years from now to buy a sports car from her friend, Jim. She has 2,500 now and would like to save equal annual end-of-year deposits to pay for the car.
 
  How much should she deposit at the end of each year in an account paying 8 percent interest to buy the car?

Question 2

If the NPV is greater than 0, a project should be accepted.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ecox1012

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jul 10, 2018
Answer to Question 1

Using financial calculator: PV= -2500, N=3, I=8, FV=10000, CPT PMT = 2110.25

Answer to Question 2

TRUE


jhjkgdfhk

  • Hero Member
  • *****
  • Posts: 569
Reply #2 on: Jul 10, 2018
Thank you :)


ecox1012

  • Sr. Member
  • ****
  • Posts: 344
Reply #3 on: Jul 10, 2018
Happy to help you


« previous next »
 

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

The cranium of early African H. erectus KNM-ER 3733 is nearly 1.8 million years old. The cranium of early African H. erectus KNM-ER 3733 is nearly 1.8 million years old.
Approximately 40 percent of farmers in the United States are 55 years old or older Approximately 40 percent of farmers in the United States are 55 years old or older
Americium-243 has a decay constant of 9.39 × 10-5 years-1. How long will it take Americium-243 has a decay constant of 9.39 × 10-5 years-1. How long will it take
A portfolio earned -13%, 18%, 5%, 24%, and -5% in five successive years. What was the ... A portfolio earned -13%, 18%, 5%, 24%, and -5% in five successive years. What was the ...
Earth 340 Million Years Ago Earth 340 Million Years Ago
Earth 65 Million Years Ago Earth 65 Million Years Ago
Video: Structure of a Ribosome

For a complete list of videos, visit our video library