What will be the value of the car in eight years

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1. Your friend just bought a new car for $30,275. You expect that the value of the car will decline by 8 percent every year. What will be the value of the car in 8 years?

2. You will receive $981 at the end each year in years 1 through 10, $2,005 in years 11 through 20, and $3,212 in years 21 through 30. How much is all this worth today, if the required rate of return is 3%?

Reference no: EM132006074

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