1 explain the concept of interest and compare it to rate of, Ask an Expert

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1. Explain the concept of interest and compare it to rate of interest.

2. When using a financial calculator, n stands for the ____.

number of periods

present value amount

interest rate per period

future value amount

3. Cosmos Touring wishes to replace its luxury bus in 10 years by accumulating funds in a special account. The new bus is expected to cost $180,000. How much must Cosmos put into the fund in equal, end-of-year amounts if earnings are expected to be 8% for the first 4 years and 10% thereafter?

$14,727

$11,465

$12,107

$9,901

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92647554

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