Question
A bank offers a CD that pays a simple interest rate of 3.0%. How much must you put in this CD now in order to
A bank offers a CD that pays a simple interest rate of 3.0%. How much must you put in this CD now in order to have $1,000 for a home-entertainment center in 3 years?
The present value that must be invested to get $1,000 after 3 years at an interest rate of 3.0%
(round up to the next cent)
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Finance Theory And Practice
Authors: Anne Marie Ward
2nd Edition
1907214259, 978-1907214257
