Find the equivalent cash cost today for a car purchased for $1000 down and $500 a month for 36 months, if money is worth 12% per year compounded monthly. A person deposits $1100 at the end of the year for 20 years, and then withdraws an amount at the end of each year for the next 5 years. If money is worth 6% per year, and the same amount is withdrawn each year, what is the amount of each withdrawal? A person invests $1000 per year in a fund, for 10 years, and then stops making payments. If money is worth 8% per year, what is the value in the fund at the end of 20 years?
[College: Project Cost-Benefit Analysis Course, Economic Questions] - Can someone please explain the steps on how to complete these problems? Thank you in advance!
Find the equivalent cash cost today for a car purchased for $1000 down and $500 a month for 36 months, if money is worth 12% per year compounded monthly.
A person deposits $1100 at the end of the year for 20 years, and then withdraws an amount at the end of each year for the next 5 years. If money is worth 6% per year, and the same amount is withdrawn each year, what is the amount of each withdrawal?
A person invests $1000 per year in a fund, for 10 years, and then stops making payments. If money is worth 8% per year, what is the value in the fund at the end of 20 years?
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 1 images
