For the previous example , find the future worth if the in 6% cempounded monthly

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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please answer 2nd ques.

1- An engineering technology group just purchased a software for
$7,000 now and annual payments of $300 per year for 8 years
starting 4 years from now for annual upgrades, find the present
worth of the payment if the interest rate is 5%?
2- For the previous example , find the future worth if the interest rate is
6% compounded monthly
Transcribed Image Text:1- An engineering technology group just purchased a software for $7,000 now and annual payments of $300 per year for 8 years starting 4 years from now for annual upgrades, find the present worth of the payment if the interest rate is 5%? 2- For the previous example , find the future worth if the interest rate is 6% compounded monthly
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