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Your friend is willing to buy your Ford F-150 in 4 years. You bought the truck for $50,000 and he is willing to pay you 60% of that price in 4 years. What is your friend's offer worth today given a 7.5% interest rate? $24,217 $23,320 None of the options listed $2,464 $25,157 You have budgeted $350 per month for a car payment. What is the maximum amount you can spend on a car given a 4.5% interest rate over 4 years? None of the options listed O $15,349 O $17,541 $21,926

Your friend is willing to buy your Ford F-150 in 4 years. You bought the truck for $50,000 and he is willing to pay you 60% of that price in 4 years. What is your friend's offer worth today given a 7.5% interest rate? $24,217 $23,320 None of the options listed $2,464 $25,157 You have budgeted $350 per month for a car payment. What is the maximum amount you can spend on a car given a 4.5% interest rate over 4 years? None of the options listed O $15,349 O $17,541 $21,926

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Your friend is willing to buy your Ford F-150 in 4 years. You bought the truck for $50,000 and he is willing to pay you 60% of that price in 4 years. What is your friend's offer worth today given a 7.5% interest rate? $24,217 $23,320 O None of the options listed $22,464 $25,157 You have budgeted $350 per month for a car payment. What is the maximum amount you can spend on a car given a 4.5% interest rate over 4 years? None of the options listed $15,349 $17,541 $21,926 $19,734
Transcribed Image Text:Your friend is willing to buy your Ford F-150 in 4 years. You bought the truck for $50,000 and he is willing to pay you 60% of that price in 4 years. What is your friend's offer worth today given a 7.5% interest rate? $24,217 $23,320 O None of the options listed $22,464 $25,157 You have budgeted $350 per month for a car payment. What is the maximum amount you can spend on a car given a 4.5% interest rate over 4 years? None of the options listed $15,349 $17,541 $21,926 $19,734
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