Business, 23.10.2021 16:20 sanafarghal

The cost of a new automobile is $11,600. If the interest rate is 4%, how much would you have to set aside now to provide this sum in four years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. You have to pay $11,000 a year in school fees at the end of each of the next five years. If the interest rate is 7%, how much do you need to set aside today to cover these bills? (Do not round intermediate calculations. Round your answer to 2 decimal places.) c. You have invested $55,000 at 7%. After paying the above school fees, how much would remain at the end of the five years? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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The cost of a new automobile is $11,600. If the interest rate is 4%, how much would you have to set...

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