You are the financial manager for a recreation center that has signed an option to purchase new elliptical machines for $22,500 in two years. if you have an investment opportunity that guarantees 7% interest, how much must you invest to have the necessary funds to purchase the elliptical machines?

Present Value= $19,652.37

Explanation:

Giving the following information:

You are the financial manager for a recreation center that has signed an option to purchase new elliptical machines for $22,500 in two years. If you have an investment opportunity that guarantees 7% interest.

PV= FV/(1+i)^n

PV= 22,500/ (1.07^2)= $19,652.37

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.