P = 29,000 + 13,000(P/A,10%,3) + 13,000[7/(1 + 0.10)](P/F,10%,3) = 29,000 + 13,000(2.4869) + 82,727(0.7513) = $123,483
What will be an ideal response?
(a) Find P in year –1 and then move to year 5
P -1 = 210,000[6/(1 + 0.08)]
= 210,000(0.92593)
= $1,166,667
F = 1,166,667(F/P,8%,6)
= 1,166,667(1.5869)
= $1,851,383
(b) Spreadsheet function: = -FV(8%,5,,NPV(8%,B3:B7)+B2)
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