Your finance text book sold 53,000 copies in its first year. The publishing company expects the sales to grow at a rate of 23.0 percent for the next three years, and by 10.0 percent in the fourth year. Calculate the total number of copies that the publisher expects to sell in year 3 and 4. (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answers to the nearest whole number.)
Number of copies sold after 3 years
Number of copies sold in the fourth year
Find the present value of $2,500 under each of the following rates and periods.
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(If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)
a. 8.9 percent compounded monthly for five years.
Present value $
b. 6.6 percent compounded quarterly for eight years.
Present value $
c. 4.3 percent compounded daily for four years.
Present value $
d. 5.7 percent compounded continuously for three years.
Present value
$270,325 invested at 6 percent.
Annual cash flows $
$27,545 invested at 12 percent.
Annual cash flows $
$108,612 invested at 10 percent.
Annual cash flows $
Modern Energy Company owns several gas stations. Management is looking to open a new station in the western suburbs of Baltimore. One possibility they are evaluating is to take over a station located at a site that has been leased from the county. The lease, originally for 99 years, currently has 73 years before expiration. The gas station generated a net cash flow of $91,803 last year, and the current owners expect an annual growth rate of 6.3 percent. If Modern Energy uses a discount rate of 9.7 percent to evaluate such businesses, what is the present value of this growing annuity? (Round intermediate calculations to 6 decimal places, e.g. 1.521253 and final answer to 2 decimal places, e.g. 15.25.)
Present value $
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