You plan on going on a 6 month vacation 8 months from now. You can...
60.1K
Verified Solution
Link Copied!
Question
Accounting
You plan on going on a 6 month vacation 8 months from now. You can pay $3,458 per month during the vacation, or you can pay $22,523 today. If you pay today, how much does it save (or cost) you in present value term if your investments earn 3.41% APR (compounded monthly)?
If it costs you more to pay today, state your answer with a negative sign (eg., -2000).
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.