Question
Billy needs $1,000 in 8 years to buy a new phone. If his investment earns 5% compounded annually, how much must he invest today to
Billy needs $1,000 in 8 years to buy a new phone. If his investment earns 5% compounded annually, how much must he invest today to achieve his goal? (Pick the closest answer)
Question 16 options:
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| a) | $1,469 |
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| b) | $1,477 |
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| c) | $677 |
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| d) | $681 |
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The Repo Handbook
Authors: Moorad Choudhry
1st Edition
0750651628, 978-0750651622
