1 the pirerras are planning to go to europe 3 years from, Ask an Expert

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1. The Pirerras are planning to go to Europe 3 years from now and have agreed to set aside $190/month for their trip. If they deposit this money at the end of each month into a savings account paying interest at the rate of 6.5%/year compounded monthly, how much money will be in their travel fund at the end of the third year? (Round your answer to the nearest cent.)

2. A local moving service recently purchased a van by securing a loan with semiannual payments of $3500 per semiannual period for 8 years at 12% per year compounded semiannually. What was the purchase price of this van? (Round your answer to the nearest cent.)

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Financial Management, Finance

Category:- Financial Management
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