Problem 1. A company is considering getting involved in electronic commerce. A modest e-commerce package is available for $20,000. If the company wants to recover the cost in 2 years, what is the...

Q1a

Please solve by hand (Not in excel)

Extracted text: Problem 1. A company is considering getting involved in electronic commerce. A modest e-commerce package is available for $20,000. If the company wants to recover the cost in 2 years, what is the equivalent amount of new income that must be realized every 6 months, if the interest rate is 3% per quarter? (Ans. $5,784)