Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. Julie Miller wants to know how large of a deposit to make so that the money will grow to $88,000 in 4 years at

image text in transcribed
5. Julie Miller wants to know how large of a deposit to make so that the money will grow to $88,000 in 4 years at a discount rate of 6%. Period 6% 8% 1 .943 .935 .926 2 .890 .873 .857 3 .840 .816 .794 4 .792 .763 .735 5 .747 .713 .681 7% AWN 5. Julie Miller wants to know how large of a deposit to make so that the money will grow to $90,000 in 3 years at a discount rate of 8%. Period 6% 7% 8% 1 .943 .935 .926 2 .890 .873 .857 3 .840 .816 .794 4. .792 .763 .735 5 .747 .713 .681 OWN

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The F And I Revolution Finance Reimagined

Authors: Michael A Bennett

1st Edition

1507777221, 978-1507777220

More Books

Students also viewed these Finance questions