Solve the annual rate of interest sandhill needs to earn

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Sandhill Inc. needs to set aside cash for the replacement of a conveyor in its assembly line. Sandhill can afford to set aside $19,700 at the end of each quarter and will need $347,000 to replace the conveyor at the end of four years.

Problem 1: What annual rate of interest will Sandhill need to earn on the cash invested to reach its goal of $347,000?

Problem 2: Solve the annual rate of interest Sandhill needs to earn on the cash invested in order to reach its goal of $347,000 to replace the conveyor four years from today.

Reference no: EM133006131

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