1 city wide delivery service uses vans costing 24800 each, Ask an Expert

Finance

1. City Wide Delivery Service uses vans costing $24,800 each. How much will the company have to invest today to accumulate enough money to buy six new vans at the end of 4 years? City Wide’s bank is currently paying 12% interest compounded quarterly.

2. You are the owner of a Jani-King cleaning service franchise. Your accountant has determined that the business will need $27,500 in new equipment in 3 years. If your bank is paying 6% interest compounded monthly, how much must you invest today to meet this financial goal? Round to the nearest whole dollar.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M93053908

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