3. Parker, Inc purchased new equipment for $56,100. The new equipment would save on operating costs over the next 5 years as follows: $15,600 in year 1; $13,000 in year 2; $13,000 in year 3; $21,600 in year 4; and $10,800 in year 5. The payback period for the new equipment is ______ years. Enter your answer rounded to 2 decimals

4.

Question 4

	You purchase a home for $191,000 that you expect to appreciate 6% in value on an annual basis. How much will the home be worth in ten years? Factors to use for n=10, I =6% (DO NOT USE ANY OTHER FACTORS OR EQUATIONS) Present Value of $1 0.55839 Present Value of an Annuity of $1 7.36009 Future Value of $1 1.79085 Future Value of an Annuity of $1 13.18079