Question
11. A person wants to accumulate $10,000 at the end of 8 years. The investment fund will get a rate of i(4) = 6%/a. He
11. A person wants to accumulate $10,000 at the end of 8 years. The investment fund will get a rate of i(4) = 6%/a. He puts $2,500 at the fund today and $2,500 at the end of years 2 and 6. What is the final payment, at the end of year 8?
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Cases In Financial Reporting
Authors: Ellen Engel, D. Eric Hirst, Mary Lea McAnally
7th Edition
1934319791, 9781934319796
