You would like to buy yourself a fabulous new car. You have $50,000 but the car...

You would like to buy yourself a fabulous new car. You have $50,000 but the car costs $68,500. If you can earn 9% interest on a two year investment, how much would you have to invest today to buy the car in two year? Do you have enough? Assume the price of the car will remain the same.

N =

I =

PV =

PMT =

FV =

P/Y =

Solutions

Expert Solution

N=2
I=9
PMT=0
FV=-68500
P/Y=1
CPT PV=57655.0795

Amount to be invested today=57655.0795

No one does not have enough

jeff jeffy answered 1 year ago

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