Financial management

KPMG provided consulting services to a client The client contracted to pay KPMG $460000 for the consulting after 3 years Assuming an interest rate of 10%, what did KPMG actually earn for the consulting services (as opposed to interest)? (Round your answer to the nearest dollar)

Mr Fenewick plans on retiring in 15 years To fund his retirement account, Mr Fenewick will deposit $4400 every year into an account that earns 8% annually How much will be available to Mr Fenewick at the end of 15 years? (Round your answer to the nearest dollar) Crazy Al signs an agreement to buy a car that requires payment (principal and interest) of $5798 at the end of each year for 3 years The car dealer used 10% as the interest rate to determine the payments What should Crazy AI consider to be the purchase price of the car?
(Round your answer to the nearest dollar)

Jeff has the opportunity to receive lump-sum payments either now or in the future Which of the following opportunities is the best, given that the interest rate is 7% per year?

 

a one that pays $1,500 in five years

b one that pays $1,000 now

c one that pays $1,200 in two years

d one that pays $1,800 in ten years

Solution:

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