Question
An individual wishes to deposit an amount of money now to have an accumulation of $2000 at the end of 5 years. If the interest
An individual wishes to deposit an amount of money now to have an accumulation of $2000 at the end of 5 years. If the interest rate is at 4% per year, compounded monthly, determine
a) how much should be deposited now?
b) what is the effective annual interest rate?
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Handbook Of Asset And Liability Management Volume 2
Authors: S. A. Zenios, W. T. Ziemba
1st Edition
0444528024, 978-0444528025
