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please answer both questions, will leave a like thanks If Cullumber Mooney invests $7,175.96 now and she will receive $22.000 at the end of 13
please answer both questions, will leave a like thanks
If Cullumber Mooney invests $7,175.96 now and she will receive $22.000 at the end of 13 years, what annual rate of interest will Cullumber earn on her investment? (Hint: Use Table 3.) (Round answer to 0 decimal places, e.g. 25%.) Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Annual rate of interest % Crane Googal owns a garage and is contemplating purchasing a tire retreading machine for $15,820. After estimating costs and revenues, Crane projects a net cash inflow from the retreading machine of $3,700 annually for 6 years. Crane hopes to earn a return of 8% on such investments. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the present value of the retreading operation? (Round answer to 2 decimal places, e.g. 25.25.) Present value $ Should Crane Googal purchase the retreading machine? Crane Googal purchase the retreading machine Step by Step Solution
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