Question
investment X offers to pay you $4,200 per year for seven years, whereas Investment Y offers to pay you $6,300 per year for four years.
investment X offers to pay you $4,200 per year for seven years, whereas Investment Y offers to pay you $6,300 per year for four years.(Use a Financial calculator to arrive at the answers. Round "PV Factor" to 3 decimal places. Round the final answers to 2 decimal places.)
Calculate the present value for Investment X and Y if the discount rate is 6%.
Present value investment X$Investment Y$
Calculate the present value for Investment X and Y if the discount rate is 16%.
Erindale Bank offers you a $45,000, five-year term loan at 7.5% annual interest. What will your annual loan payment be?(Do not round intermediate calculations. Round the final answer to 2 decimal places.)
Annual loan payment$
Present value investment X$Investment Y$
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