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 91 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?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

The skullcap from Trinil, Java is the type specimen for H. erectus and is about 900,000 years old. The skullcap from Trinil, Java is the type specimen for H. erectus and is about 900,000 years old.
The proportion of obese and extremely obese adults in the United States has increased over the past The proportion of obese and extremely obese adults in the United States has increased over the past
The 2012 U.S. presidential campaign rang with “get tough” cries to end Iran’s nuclear capacity and c The 2012 U.S. presidential campaign rang with “get tough” cries to end Iran’s nuclear capacity and c
Research reveals that children’s motives for engaging in sports are to have fun and gain skills ... Research reveals that children’s motives for engaging in sports are to have fun and gain skills ...
“Career choice” for many women means leaving their paid jobs for a number of years when they ... “Career choice” for many women means leaving their paid jobs for a number of years when they ...
Climate change occurs over millions of years Climate change occurs over millions of years
Video: Evolutionary tree of life Animation

For a complete list of videos, visit our video library