Question 94 (a) Find the amount of money a company could afford to spend now instead of spending $100,000 six years from now at an interest rate of 16% per year, compounded quarterly. (b) The owner of a small business borrowed $70,000 with an agreement to repay the loan with quarterly payments over a five year time period. If the interest rate is 12% per year compounded quarterly, what is his loan payment value per quarter?

Question 94 (a) Find the amount of money a company could afford to spend now instead of spending $100,000 six years from now at an interest rate of 16% per year, compounded quarterly. (b) The owner of a small business borrowed $70,000 with an agreement to repay the loan with quarterly payments over a five year time period. If the interest rate is 12% per year compounded quarterly, what is his loan payment value per quarter?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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hi you have not specified how you got 1.152