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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 107 times)

jhjkgdfhk

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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


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ecox1012

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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

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Reply #2 on: Jul 10, 2018
Thank you :)


ecox1012

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Reply #3 on: Jul 10, 2018
Happy to help you


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