Question
(a) $4,500 will be paid 6 years and 10 months from now. Find the present value of this payment if interest is at j2 =
(a) $4,500 will be paid 6 years and 10 months from now. Find the present value of this payment if interest is at j2 = 9%. Use the practical method
(b) An investment fund guarantees to double your money in 5 years. What rate of interest j2 is implied?
(c) If money doubles at a certain rate of interest compounded monthly in 6 years, how long will it take to the same amount of money to triple in value?
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Affordable Housing Finance
Authors: K. Hawtrey
2009th Edition
0230555187, 978-0230555181
