Jenna would like to purchase a new car in three years. If she saves $1000 per year in an account that pays 8% annual interest for the next 3 years, how much will she have saved for a down payment? (Round the final answer to the nearest dollar.) Values for i = 8%, n = 3
Present value of an ordinary annuity of $1 2.577
Present value of $1:.772
Future value of an ordinary annuity of $1 3.246
Future value of $1:
a. $ 1.260
b. $ 3246
c. $ 3772
d. $ 3577
e. $ 2577
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Jenna would like to purchase a new car in three years. If she saves $1000 per year in an account that pays 8% annual interest for the next ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Flagstaff Company has budgeted production units of 7,900 for July and 8,100 for August. The direct labor requirement per unit is 0.50 hours. Labor is paid at the rate of $21 per hour.
Answers (1)
An example of a perfectly competitive market would be the market fora. tennis racquets. b. pizza. c. garbage collection. d. wheat.
Answers (1)
ABC Company's actual unit sales in the current year for January, February, and March was 16,100, 13,100, and 19,100 units, respectively. Current year selling price is $40.
Answers (1)
In what three ways can companies consolidate
Answers (1)
The functional areas of business ethies include
Answers (1)
New Questions in Business
In general, a visionary organization asks what three types of questions to specify its foundation, set a direction, and formulate strategies? why, when, where what, by whom, how why, what, how how, when, where who, why, when
Answers (1)
The United States wanted overseas territories because the territories had A) access to ports. B) customers who would buy U. S. products. C) connections with European nations. D) access to raw materials.
Answers (1)
On January 1, Puckett Company paid $1.71 million for 57,000 shares of Harrison's voting common stock, which represents a 40 percent investment. No allocation to goodwill or other specific account was made.
Answers (1)
I'm always cramming to hand in an assignment or take an exam.
Answers (2)
Any item that has a definite monetary value is able to be used as: A a down payment B an installment payment C collateral
Answers (1)