Bulldog Gym, Inc. knows they will be facing an equipment bill of around $20,000 in 4 years. They have spoken to a few local banks and are weighing the following options. Bank 1: Invest $5,500 per year at 2% interest Bank 2: Invest $4,750 per year at 4% interest Bank 3: Invest $17,000 now at 5% interest What will the Bank 1 investment be in 4 years? Please include dollar signs, commas, and periods. What will the Bank 2 investment be in 4 years? Please include dollar signs, commas, and periods. What will the Bank 3 investment be in 4 years? Please include dollar signs, commas, and periods. What option will give the gym the most money to work with in 4 years?

Bulldog Gym, Inc. knows they will be facing an equipment bill of around $20,000 in 4 years. They have spoken to a few local banks and are weighing the following options. Bank 1: Invest $5,500 per year at 2% interest Bank 2: Invest $4,750 per year at 4% interest Bank 3: Invest $17,000 now at 5% interest What will the Bank 1 investment be in 4 years? Please include dollar signs, commas, and periods. What will the Bank 2 investment be in 4 years? Please include dollar signs, commas, and periods. What will the Bank 3 investment be in 4 years? Please include dollar signs, commas, and periods. What option will give the gym the most money to work with in 4 years?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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