Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

thank you ampletion status QUESTION 4 to deposit each year at 59% interest in order to puchase the truck at the end of year 5.

thank you

image text in transcribedimage text in transcribed
ampletion status QUESTION 4 to deposit each year at 59% interest in order to puchase the truck at the end of year 5. An engineer is planning on purchasing a new $35,000 pickup truck in 5 years. She wants to deposit an equal amount of money in the bank each year. How much will she have O a. $7,000 5 points O b. $5,420 c. $6,334 O d. $8,084 QUESTION 5 If you want to triple your money at an annual coupound interest rate of 69%, how many years would you have to leave the money in the account? O a. 12 years O b. 19 years c. 32 years Save All Answers d. Cannot be determined without knowing the amount invested Click Save and Submit to save and submit. Click Save All Answers to save all answers. SAMSUNGQUESTION 6 Suppose you repay a $5000 loan at 89% interest with payments of $700 beginning at t-4. What integer number of payments would it take to fully repay the loan? QUESTION 7 Operating and maintenance costs at a factory are expected to be $1,000 in year 3, but increase by 39% per year thereafter through year 10. The company would like to deposit a uniform amount in an account in years 1 through 10 to ensure the money will be available to cover all the mantenance costs over the next 10 years. If the account earns 89% compound interest, the minimum value of that deposit is nearest to: a. $1168 O b. $786 O c. $806 Od. $940 Save All Answers QUESTION 8 Click Save and Submit to save and submit. Click Save All Answers to save all answers. SAMSUNG

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Law And The Legal Environment

Authors: Jeffrey F Beatty, Susan S Samuelson

4th Edition

0324303971, 9780324303971

More Books

Students also viewed these Economics questions

Question

What is a social role? (p. 30)

Answered: 1 week ago

Question

2. Find five metaphors for communication.

Answered: 1 week ago