Adam, a farmer, wants to buy a new equipment in three years from now. He expects that the price of the equipment will be $15000 in three years. Approximately, how much money should Adam put currently in his savings account if a bank pays 5% interest rate on that account? Select one: O a. $12958 O b. $12465 O c. $19284 O d. $15928

Adam, a farmer, wants to buy a new equipment in three years from now. He expects that the price of the equipment will be $15000 in three years. Approximately, how much money should Adam put currently in his savings account if a bank pays 5% interest rate on that account? Select one: O a. $12958 O b. $12465 O c. $19284 O d. $15928

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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