17 012 points Denzel needs a new car. At the dealership, he finds the car...
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17 012 points Denzel needs a new car. At the dealership, he finds the car that he likes. The dealership gives him two payment options 1. Pay $35,000 for the car today. 2. Pay $4,000 at the end of each quarter for three years. Required: 1-a. Assuming Denzel uses a discount rate of 12% (or 3% quarterly), calculate the present value. (FV of S1, PV of $1. FVA of S1, and PVA 08:51) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) 8 02:25:23 Book Present Value Paint References Option 1 Option 2 1.b. Which option gives him the lower cost? O Option 1 Option 2 18 Alec, Daniel, William, and Stephen decide today to save for retirement Each person wants to retire by age 65 and puts $11,000 into an account earning 10% compounded annually. (FV of $1. PV of $1. FVA of S1, and PVA of $1 (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) 0.12 points 8 03:25:05 Required: Calculate how much each person will have accumulated by the age of 65 Book Person Age Initial Investment Accumulated Investment by Retirement (age 65) $ References Alec Daniel William Stephen 55 45 35 25 11,000 11,000 11,000 11,000
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