1- Mr. Nailor invests $29,000 in a money market account at his local bank. He...
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Finance
1- Mr. Nailor invests $29,000 in a money market account at his local bank. He receives annual interest of 8% for 7 years. How much return will his investment earn during this time period? Use Appendix A to calculate the answer.
$49,706
$20,706
$47,390
$16,907
2-
Carol Thomas will pay out $8,000 at the end of the year 2, $10,000 at the end of year 3, and receive $12,000 at the end of year 4. With an interest rate of 11 percent, what is the net value of the payments vs. receipts in today's dollars? Use Appendix B to calculate the answer.
($5,898)
($13,806)
($9,112)
($21,714)
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