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Problem 5.17
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Your finance text book sold 46,000 copies in its first year. The publishing company expects the sales to grow at a rate of 18.0 percent for the next three years, and by 13.0 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
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Number of copies sold in the fourth year
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Problem 5.21
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Find the present value of $3,400 under each of the following rates and periods.
(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
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b. 6.6 percent compounded quarterly for eight years.
Present value
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c. 4.3 percent compounded daily for four years.
Present value
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d. 5.7 percent compounded continuously for three years.
Present value
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Problem 6.19
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