1 you have 87500 saved today and want to purchase a new, Ask an Expert

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1. You have $87,500 saved today and want to purchase a new yacht when your money grows to $485,000. If you can earn 4 percent on your investments, how long do you have to wait to buy your yacht?

2. Assuming a 3.2 percent annual increase in the price of automobiles, how much will a new BMW cost you 4 years from now if today's price is $58,500?

3. What is the total future value six years from now of $450 received in one year, $750 received in two years, and $1200 received in six years if the discount rate is 6 percent?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92865520

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