Asked by jasmine

City wide delivery service uses vans costing $24800 each. How much will the company have to invest today to accumulate enough money to buy six new vans at the end of 4 years? City wides bank is currently paying 12% interest compounded quarterly

Answers

Answered by Ms. Sue
12% interest????

What year was this question written????

Answered by Reiny
cost of 6 vans at the end of 4 yrs
= 148800

i = .03
n = 4(4) = 16

P(1.03)^16 = 148800

solve for P
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