Homework Answers
a. Money required to be deposited each year = 250000 * (A/F,9%,5)
= 250000 * 0.167092
= 41773.11
b. Annual payment required = 225000 * (A/P,9%,5)
= 225000 * 0.259072
= 57845.80
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Problem 3 (20 Points Total) Durban Moving and Storage wants to have enough money available 5...
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Durban Moving and Storage wants to have enough money available 7 years from now to purchase a new tractor-trailer. If the estimated cost will be $260.000. how much should the company set aside each year if the funds earn 14% per year? The company should set aside each year
Durban Moving and Storage wants to have enough money available 7 years from now to purchase...
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Please show the work. Thank you for your assistance! Durban Moving and Storage wants to have...
Please show the work.
Thank you for your assistance!
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Durban Moving and Storage wants to have enough money available 7 years from now to purchase a new tractor-trailer. If the estimated cost will be $260.000. how much should the company set aside each year if the funds earn 14% per year? The company should set aside each year
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Please show the work.
Thank you for your assistance!
Durban Moving and Storage wants to have enough money available 6 years from now to purchase a new tractor-trailer. If the estimated cost will be $210,000, how much should the company set aside each year if the funds earn 11% per year The company should set aside $ each year.
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