Question
A friend tells you she has saved for seven years and has a present sum of $18,000, which she earned at the rate of 7%
A friend tells you she has saved for seven years and has a present sum of $18,000, which she earned at the rate of 7% per year, compounded quarterly.
Determine the equivalent amount she had to start with seven years ago.
The equivalent amount she had to start with seven years ago is ?
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Introductory Econometrics A Modern Approach
Authors: Jeffrey M. Wooldridge
4th edition
978-0324581621, 324581629, 324660545, 978-0324660548
