Master mfg., inc., contracted with accur computer repair corp. to maintain master’s computer system. master’s manufacturing process depends on its computer system operating properly at all times. a liquidated damages clause in the contract provided that accur would pay $1,000 to master for each day that accur was late responding to a service request. on january 12, accur was notified that master’s computer system had failed. accur did not respond to master’s service request until january 15. if master sues accur under the liquidated damage provision of the contract, master will:

Over the past several years, joyce chen has been able to save regularly. as a result, today she has $54,188 in savings and investments. she wants to establish her own business in 5 years and feels she will need $100,000 to do so. a. if she can earn 6% on her money, how much will her $54,188 in savings/investments be worth in 5 years? will joyce have the $100,000 she needs? if not, how much more money will she need? b. given your answer to part a, how much will joyce have to save each year over the next 5 years to accumulate the additional money? assume she can earn interest at a rate of 6%. c. if joyce can afford to save only $4,000 a year then, given your answer to part a, will she have the $100,000 she needs to start her own business in 5 years?