PLEASE USE EXCEL TO SHOW YOUR WORK Joe\'s Sports Dine is purchasing a new televi

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PLEASE USE EXCEL TO SHOW YOUR WORK

Joe's Sports Dine is purchasing a new television. The first alternative is an Ultra-HD television The television costs $2030 initially. The television has no annual costs or savage value, and lasts 6 years. The second alternative is a projection television. The television costs $3530 initially. This television has $150 costs for bulbs eve-y 3 years. It has a salvage value of $500 at the end of its 9-year life. Interest is a nominal 10% per year compounded monthly. Use present worth analysis given to decide on a television. A. Find the effective annual interest rate. Nominal rate per year Compounding periods Effective rate per year B. Find the present worth for each alternative: C. Which alternative do you select?

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