Question #240586
An engineering technology group just purchased new CAD software for $5000 now and annual
payments of $500 per year for 6 years starting 3 years from now for annual upgrades. If the interest
rate is 8% per year,
1) What is the present worth of the payments?
2) What is the worth of the payments in the 6th year?
payments of $500 per year for 6 years starting 3 years from now for annual upgrades. If the interest
rate is 8% per year,
1) What is the present worth of the payments?
2) What is the worth of the payments in the 6th year?
Expert's answer
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#339914 on Dec 2023
#339914 on Dec 2023