Question
Tina would like to send her parents on a cruise for their 25th wedding anniversary. She has priced the cruise at $15,000, and she has
Tina would like to send her parents on a cruise for their 25th wedding anniversary. She has priced the cruise at $15,000, and she has 5 years to accumulate this money. How much must Tina deposit annually in an account paying 10% interest in order to have enough money to send her parents on the cruise?
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
5th edition
1111527369, 978-1111527365
