18 -Finance. A person wishes to have $18,000 cash for a new car 7 years from now. How much should be placed in anaccount now, if the account pays 4.9% annual interest rate, compounded weekly?(Round to the nearest dollar.)

the answer is P = $12,775.55 explanation for the same:- given we have A= 18000 T= 7 years R= 4.9…

Answered: nance. A person wishes to have $18,000…

nance. A person wishes to have $18,000 cash for a new car 7 years from now. How much should be placed count now, if the account pays 4.9% annual interest rate, compounded weekly?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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Finance. A person wishes to have $18,000 cash for a new car 7 years from now. How much should be placed in an
account now, if the account pays 4.9% annual interest rate, compounded weekly?
(Round to the nearest dollar.)

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