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Determine when mac enterprises will repay the loan

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Question 1: Tyler Town Corporation invested $22,000 in a 60-year(s) investment at 20% interest, compounding quarterly. What is the future value? (Enter answer as a positive number.)

Question 2: MAC Enterprises borrowed $19,000 from its bank at a 16% annual interest rate, compounded annually and will repay $30,000. Determine when MAC Enterprises will repay the loan. (Note: When entering Time Value of Money problems with two dollar amounts, one of the amounts must be negative. For this problem, use the drop-down to add the "+/-" button as a keystroke immediately before PV.)

Attachment:- MAC.rar

Reference no: EM132461517

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