Question
1. If you deposit $5,000 today in an account paying 8%, how long does it take to grow to $15,000? Assume annual compounding. 2. You
1. If you deposit $5,000 today in an account paying 8%, how long does it take to grow to $15,000? Assume annual compounding.
2. You estimate that you will need $40,000 to spend on your dream wedding, due to be held 4 years from now. You have $15,000 to invest today. What nominal rate of interest must you earn on your investment to cover the cost of your dream wedding? Assume semiannual compounding
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1 If you deporit Paying grow 82 how to 15000 A P 15000 5000 18100 3 ...
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
