Financing for a personal computer finance problem?
Saturday, February 28th, 2009
militarymama11 asked:
Dr. J. wants to buy an IBM personal computer which will cost $2,788 four years from today. He would like to set aside an equal amount at the end of each year in order to accumulate the amount needed. He can earn 7% annual return. How much should he set aside?
A)$697.00
B)$627.93
C)$823.15
D)$531.81
Dr. J. wants to buy an IBM personal computer which will cost $2,788 four years from today. He would like to set aside an equal amount at the end of each year in order to accumulate the amount needed. He can earn 7% annual return. How much should he set aside?
A)$697.00
B)$627.93
C)$823.15
D)$531.81
