Question

Approximately how much money do you need to deposit today in an a account earning 6.4%...

Approximately how much money do you need to deposit today in an a account earning 6.4% per year in order to pay for a car that will cost you $27,000 in 4 years?

$25,376

$21, 067

$6,344

$23,221

0 0
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Answer #1

Answer is (B) $ 21,067. Explanation Present value future value (1+i)? Here future value a $ 27,000 ja - 6.4%. , n n : 4 = 4 y

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