A very generous grandfather is planning to leave his only granddaughter well off when she reaches the
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A very generous grandfather is planning to leave his only granddaughter well off when she reaches the age of 25. He plans to deposit a lump sum now, which is her 2nd birthday, such that she will have enough money to live comfortably without working for a salary. He wants her to receive an amount that will have the same purchasing power as
$2 million today. If he can invest the money and earn an average market interest rate of 8% per year while the inflation rate averages 4% per year, how much must he deposit now?
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Mehwish Aziz
What I have learnt in my 8 years experience of tutoring is that you really need to have a friendly relationship with your students so they can come to you with their queries without any hesitation. I am quite hardworking and I have strong work ethics. Since I had never been one of those who always top in the class and always get A* no matter what, I can understand the fear of failure and can relate with my students at so many levels. I had always been one of those who had to work really hard to get decent grades. I am forever grateful to some of the amazing teachers that I have had who made learning one, and owing to whom I was able to get some extraordinary grades and get into one of the most prestigious universities of the country. Inspired by those same teachers, I am to be like one of them - who never gives up on her students and always believe in them!
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Related Book For 
Basics Of Engineering Economy
ISBN: 9780073376356
2nd Edition
Authors: Leland T. Blank, Anthony Tarquin
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