Minimum price rachel would need to receive for her car

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Reference no: EM131882563

1. Rachel purchased a $18,500 car three years ago using a 9percent loan. She has decided that she would sell the car now, if she could get a price that would pay off the balance of her loan. What is the minimum price Rachel would need to receive for her car? (the minimum price)

2. What is the value in year 3 of a $760 cash flow made in year 5 if interest rates are 10 percent?

(value in year 3)

Reference no: EM131882563

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