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Question 3 1 pts Part of the income generated by an ice cream machine is saved to purchase a new machine in the future. If
Question 3 1 pts "Part of the income generated by an ice cream machine is saved to purchase a new machine in the future. If $5,873 is deposited annually at 4% interest, how many years must the current machine last before a new machine costing $60,818 can be purchased? The first deposit will occur exactly one year from now. Interest only occurs at the end of the year, so enter your answer as an integer. This means that making 5 deposits and withdrawing the money in 5.8 years would return the same amount as withdrawing the money in 5 years." Question 4 1 pts What is the future value of an investment which compounds annually at 9% and starts at $600 in the first year and grows by 5% per year (starting in the second year) for 22 years? Question 3 1 pts "Part of the income generated by an ice cream machine is saved to purchase a new machine in the future. If $5,873 is deposited annually at 4% interest, how many years must the current machine last before a new machine costing $60,818 can be purchased? The first deposit will occur exactly one year from now. Interest only occurs at the end of the year, so enter your answer as an integer. This means that making 5 deposits and withdrawing the money in 5.8 years would return the same amount as withdrawing the money in 5 years." Question 4 1 pts What is the future value of an investment which compounds annually at 9% and starts at $600 in the first year and grows by 5% per year (starting in the second year) for 22 years
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