You just learnt that a distant relative of yours left you with $97,000 which your...
80.2K
Verified Solution
Link Copied!
Question
Finance
You just learnt that a distant relative of yours left you with $97,000 which your estate planner says you will receive after 4 years. You are very excited about the prospects and decided to use the money to purchase the car of your dreams. The only caveat - it costs $104,000 today. When you visit the showroom, the salesperson tells you that if you pay cash today, you can avail a 5% discount on the car. Else, you will need to make 4 annual payments of $29,999 each. How can you use your knowledge of TMV, make a deal with the estate planner, and to purchase the car? Use the financial calculator and explain your calculations.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
