Solutions to Chapter 1

The present value of the payments for option (a) is $11,000. The present value of the payments for option (b) is: PV= Option (b) is the better deal. 46. $100 ( e 0.10 ( 8 = $222.55. $100 ( e 0.08 ( 10 = $222.55. Your savings goal is FV = $30,000. You currently have in the bank PV = $20,000. Solve the following equation for t: months ................
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