You are the finance manager for Olympia Industries. The company plans to purchase $1,000,000 in new assembly line machinery in 5 years. Use the present value formula to calculate how much would be required now if you found a bank that offered 6% interest compounded daily.
You are the finance manager for Olympia Industries. The company plans to purchase $1,000,000 in new assembly line machinery in 5 years. Use the present value formula to calculate how much would be required now if you found a bank that offered 6% interest compounded daily.
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 6RE: Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed...
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You are the finance manager for Olympia Industries. The company plans to purchase $1,000,000 in new assembly line machinery in 5 years.
- Use the present value formula to calculate how much would be required now if you found a bank that offered 6% interest compounded daily.
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