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The optical products division of Panasonic is planning a $3.5 million building expansion for manufacturing its powerful Lumix DMC digital zoom camera. If the company
The optical products division of Panasonic is planning a $3.5 million building expansion for manufacturing its powerful Lumix DMC digital zoom camera. If the company uses an interest rate of 16% per year, compounded quarterly for all new investments, what is the uniform amount per month the company must make in order to recover its investment in 4 years? a. $372,930 b. $99,191 c. $85,113 d. $229,554
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