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AG

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Amanda Nelson wants to buy a new car 3 years from now. In addition to trading in her current car, she estimates that she will need an additional $8,000. Compute the amount that Amanda must invest now if she can earn 5% compounded quarterly. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

On May 24, 2024


0.05 ¸ 4 = 0.0125; 4 ´ 3 = 12;
$8,000 ´ 0.86151 = $6,892.08 invest now​
AG

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If the Japanese yen is worth 0.009407 U.S. dollar, how many yen would it cost a Japanese importer for merchandise worth $550,500 from a U.S. company?​

On May 22, 2024


58,520,250.88 yen​
AG

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Madison Manufacturing, Inc. has contracted to sell certain goods to a company in Malaysia. The price agreed upon for the goods is 320,000 Malaysian Ringgits. On the date the contract was signed, the Foreign Currency in dollars column in the financial section of the local paper showed that the Malaysian Ringgit was valued at .309502. Compute the U.S. dollar value Madison Manufacturing, Inc. expects to receive for the goods. (Round to nearest dollar.)​

On May 21, 2024


$99,041 U.S. Dollars​