Question
4 Mehmet wants to buy a car, which is expected to cost $8600 and he has 3 years to accumulate this money. How much must
4
Mehmet wants to buy a car, which is expected to cost $8600 and he has 3 years to accumulate this money. How much must Mehmet deposit annually in an account paying 3.5 percent interest in order to have enough money to buy the car he wants?
| 2350.1 | ||
| 2311.25 | ||
| 3223.53 | ||
| 2489.11 | ||
| 2768.63 |
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International Financial Management
Authors: Cheol Eun, Bruce Resnick
7th Edition
0077861604, 9780077861605
