Question #1

I need to know the financial application and desired quantiti..

| | | al | Mollet MIL uestion Completion Status: QUESTION 1 Identify the Financial Application represented & the Desired Quantity in the problem. Harbour Town Marina purchased four boat lifts for raising and lowering large boats into the water. The boat lifts cost $62.200 each. They borrowed the money from the bank for 240 days at 11%. Find the total amount they will pay back to the bank Financial Application: Desired Quantity (who Application: Simple interest Application: Compound Interest Application: Present Value of Annuity Application: Future Value of Annuity QUESTION 2 Quantity: Present Value Amount (Present Principle) Identify the Financial Applicatio Quantity: Future Value Amount If we wish to have accumy Quantity: Payment Amount years, with interest of 6% Financial Application: Quantity: Interest Amount Quantity: Interest Rate Quantity: Time Payments are made at the end of each quarter for 3