1. You borrow $6,930 to buy a car. The terms of the loan call for monthly payments for 5 years a rate of interest of 6 percent. What is the amount of each payment?
2. You are scheduled to receive $40,000 in two years. When you receive it, you will invest it for 8 more years at 7.5 percent per year. How much will you have in 10 years?
3. How does a short-term cash flow crisis impact a firm's competitive strategy?