Amount of money in savings account will be what in dollars

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1. You can buy a steam press for your business at $5,000 or lease one for 6 months at $1,200 per month, with the first payment due today. The cost of capital is 8% per month and the tax rate is 15%. What is the NAL? show your work.

2. Since your first birthday, your grandparents have been depositing $100 into a savings account every month. The account pays 4% interest annually. Immediately after your grandparents make the deposit on your 18th birthday, the amount of money in your savings account will be what in dollars? Show all working.

Reference no: EM132036641

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