4. Vanessa invested k US dollars (USD) in an account that pays a nominal annual interest rate of 2.9 %,compounded monthly. After 3 years she has 1200 USD in the account.a. Calculate the value of k.. Give your answer to 2decimal places. |b. Vanessa then bought a computer that cost1200 USD and sold it 4 years later. If the computerdepreciated in value at a rate of 25% per year over thattime, find the value for which Vanessa was able to sellthe computer.

Compounding is a method of charging interest in which Interest is charged on the amount including…

4. Vanessa invested k US dollars (USD) in an account that pays a nominal annual interest rate of 2.9 %, compounded monthly. After 3 years she has 1200 USD in the account. b. Vanessa then bought a computer that cost 1200 USD and sold it 4 years later. If the computer depreciated in value at a rate of 25% per year over that time, find the value for which Vanessa was able to sell the computer. a. Calculate the value of k. . Give your answer to 2 decimal places. |

4. Vanessa invested k US dollars (USD) in an account that pays a nominal annual interest rate of 2.9 %, compounded monthly. After 3 years she has 1200 USD in the account. b. Vanessa then bought a computer that cost 1200 USD and sold it 4 years later. If the computer depreciated in value at a rate of 25% per year over that time, find the value for which Vanessa was able to sell the computer. a. Calculate the value of k. . Give your answer to 2 decimal places. |

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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