Question #240586

An engineering technology group just purchased new CAD software for $5000 now and annual

payments of $500 per year for 6 years starting 3 years from now for annual upgrades. If the interest

rate is 8% per year,

1) What is the present worth of the payments?

2) What is the worth of the payments in the 6th year?

payments of $500 per year for 6 years starting 3 years from now for annual upgrades. If the interest

rate is 8% per year,

1) What is the present worth of the payments?

2) What is the worth of the payments in the 6th year?

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