Question: How is it 32,400? Try It How much does John need to save now to PV of $1 FV of $1 afford a $90,000 Porsche

How is it 32,400?

Try It How much does John need to save now to PV of $1 FV of $1 afford a $90,000 Porsche in 10 years compounded quarterly at 12%? PV x factor = FV Unknown x .3066 = $90,000 .3066 .3066 Unknown = $90,000 / 3066 = $32,400 DI 2:48 / 6:39 CC

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

If one mole of the following compounds were each placed into separate beakers containing the same amount of water, rank the Cl(aq) concentrations from highest to lowest (some may be equivalent): KCl,...

Refer to Exercise 1.26 and data set EX0126. The lengths of time (in months) between the onset of a particular illness and its recurrence were recorded: The length of time (in months) between the...

7. P, Q and R are three points on level ground. Given that the bearing of R from P is 135, LPQR = 55 and LPRQ=48, find the bearing of (i) P from R, (iii) P from Q. (ii) Q from R,

You are provided with the following summary tables from a local survey. The households are grouped by income level and household size. Table 8-1: Numbers of Households in each group Income Level...