You have a liability of $1,000,000 due in 10 years. The cost of capital is 10 percent
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You have a liability of $1,000,000 due in 10 years. The cost of capital is 10 percent per year. What amount of money do you need to set aside at the end of each of the next 10 years to meet this liability?
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We can use the concept of present value to calculate how much money you need to set aside at the end ...View the full answer
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ISBN: 9780137613663
7th Edition
Authors: Wayne Winston
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