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Purchase a laptop computer

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Reference no: EM133118554

Three years from now, Barbara Waters will purchase a laptop computer that will cost $2,250. Assume that Barbara can earn 6.25% (compounded monthly) on her money. How much should she set aside today for the purchase?

Subject: Time Value of Money

Please don't do this by hand.

Answer in Excel using formulas e.g. PV=XXX, FV=XXX, N(NPER)=XXX, I(Rate)=XXX, PMT=$$.

i.e. =fv(rate, nper, pmt, [pv], [type]

Reference no: EM133118554

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