Chat with AI
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 40
Solve the following exercises and word problems by using the present value formula
Mike Gioulis would like to have $25,000 in 4 years to pay offa balloon payment on his business mortgage. His money market account is paying 1.825% compounded daily. Disregarding leap years, how much money must Mike put in his account now to achieve his goal? Round to the nearest whole dollar.
Mike Gioulis would like to have $25,000 in 4 years to pay offa balloon payment on his business mortgage. His money market account is paying 1.825% compounded daily. Disregarding leap years, how much money must Mike put in his account now to achieve his goal? Round to the nearest whole dollar.
Explanation
Verified
Verified
Mike Gioulis would like to have $ 25000 ...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
