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  3. please show all steps and provide results to the 2nd...

Question: please show all steps and provide results to the 2nd...

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Please show all steps and provide results to the 2nd decimal place

3. You are the owner of an engineering firm and wondering if you should replace your office furniture now or wait and do so one year from now. If you do it now, the cost of new furniture and installation will be $2,000. If you wait a year from now, the cost is expected to be $2,130. 3.1. Draw a cash flow diagram for each of the two alternatives. Using an interest rate of 5% per year and annual compounding, should you replace your furniture now? Show and explain your rationale. 32
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