Question: Answer problem and show work please 8. When Per came to WIU he had $2400 saved for an entertainment budget. If he has allocated 200
8. When Per came to WIU he had $2400 saved for an entertainment budget. If he has allocated 200 per semester (twice a year), at 8% interest compounded semiannually, how many years of entertainment will his budgeted money last? PV FV PMT RATE NPER 9. Comet Powder Company has purchased a piece of equipment costing $100,000. It is expected to generate a 10-year stream of monthly benefits amounting to $1373 per month. Determine the annual rate of return Comet expects to earn from this equipment. PV FV PMT RATE NPER 10. In 2019, a company's sales were $1 million. If their sales grow at 5% per year, what will their sales be in 10 years time? PV PMT RATE NPER FV 11. A leading dealer has presented double money credentials that will double your money in 8 years; that is, if you buy one package for $333.33 today, it will pay you $1,000 at the end of 8 years. What rate of return will you earn on these double money credentials? FV PMT RATE NPER PV 12. You are prizing a task that is expected to earn $600m in 6 years. You estimate a discount interest rate of 11%. What is the present value of this cash flow? FV PMT RATE PV NPER
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