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AnnyKZ [126]
3 years ago
6

Beginning three months from now, you want to be able to withdraw $3,200 each quarter from your bank account to cover college exp

enses over the next five years. If the account pays .54 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next five years?\
Business
1 answer:
Wittaler [7]3 years ago
4 0

Answer:

The answer is: You need to have $65,510.55 in your bank today

Explanation:

You need to withdraw 20 payments (5 years x 4 quarters per year)

Each payment is $3,200

Discount interest is 0.54%

So the present value of the cash flow is: PV = $60,510.55

The best way to calculate the PV is to use an excel spreadsheet and the NPV formula:

  • =PV(0.54%,L1:L20) where L1 to L20 all equal 3,200

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When Terry Doyle of CommuniCom, Inc. created smaller, more independent maintenance units, he was performing the function of:
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To provide better service for their customers, America Online purchased office space in India for their online customer service
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Answer:

Foreign Direct Investment

Explanation:

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4 0
3 years ago
Warner Corporation purchased a machine 7 years ago for $405,000 when it launched product P50. Unfortunately, this machine has br
maxonik [38]

Answer:

1. $46,550

2. $405,000

3. $450,600

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3 years ago
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