Question
a)If you want to have $250,000 at the end of 40 years, how much will you have to deposit now assuming that you will earn
a)If you want to have $250,000 at the end of 40 years, how much will you have to deposit now assuming that you will earn annual interest of 12%, compounded annually?
n= 40
I= 12%
Factor from table
PV of $1
Calculation
Solution
I know that n=40 and I=12% and I know I have to use I think the pv chart but Im not sure how to get the answer
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds
6th Edition
78110890, 978-0078110894
