Question
Billy Bob just purchased an investment that will pay him $10,000, $20,000 and $12,000 over the next three years, respectively. If Billy Bob expects to
Billy Bob just purchased an investment that will pay him $10,000, $20,000 and $12,000 over the next three years, respectively. If Billy Bob expects to earn 12% compounded annually, how much did he pay for his investment? Please show work.
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Global Banking
Authors: Roy C Smith, Ingo Walter, Gayle DeLong
3rd Edition
0195335937, 9780195335934
