Thursday
April 17, 2014

Homework Help: Accounting

Posted by Jeremy on Sunday, April 1, 2012 at 10:44pm.

A woman would like to open a store in 8 years. She figures she will need 50,000 in capital to do so. She will make 10% on her money.


a. How much would she need to invest today in one lump sum to end up with 50000 in 8 years?

I got 23,325.25

b. if she's starting from scratch how much would she have to put away annually to accuulate the needed capital in 8 years?

I got 1247.82

c. how about if she already has 10,000 put away, how much would she have to put away to accumulate the needed capital in 8 years?

--This is the one I am stuck on. Also check my previous answers, they seem right but IDK. Thanks for any input!

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