How long will they take to triple their sales

Assignment Help Finance Basics

Reference no: EM13296080

These finance courses are new to me and I am not good at math. Can someone please help me solve these two problems by inputting this into my HP 10bII calculator. I just don't know how to solve problems using a financial calculator. Thanks in advance.

Question 1:
Elegant designers have generated sales of $625,000 for the current year. If they can grow their sales at a rate of 12% every year, how long will they take to triple their sales?

Question 2:
You plan to buy a new car. The price is $30,000 and you will make a down payment of $4,000. Your annual interest rate is 10% an you intend to pay for the car over five years. What will be your monthly payment?

Reference no: EM13296080

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