A company plans to replace one of its machines 5 years from now. If they deposit $6,827 a month in an account that gives them 0.65% interest per month. How much money will they still need to pay for the machine if the cost is $1,123,553 at that time in the future?

They would require $624,532.94  more

Explanation:

The first task is to compute the future value of the monthly deposit of $6,827 with an interest of 0.65% per month for five years.

=fv(rate,nper,-pmt,pv)

rate id 0.65% per month

nper is the number of deposits =5 years*12=60

pmt is the monthly deposit of $6,827

pv is the present value of deposits,it is unknown and taken as zero

=fv(0.65%,60,-6827,0)=$499,020.06  

balance of the required funds=required funds-future value of the deposits

balance of required funds= $1,123,553-$499,020.06=$624,532.94  

answer; (a) searching for information can be done quickly;

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi