Question
Consider the following savings plan that has a present value of $14,100 at an interest rate of 4.50%: $X at the end of year 1,
Consider the following savings plan that has a present value of $14,100 at an interest rate of 4.50%: $X at the end of year 1, $2,800 at the end of Year 2, $3,800 at the end of Year 3, and $4,000 at the end of Year 4. Compute X.
A) $5,070 B) $4,852 C) $3,500 D) $4,436 E) $6,084
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Monetary Policy Strategy
Authors: Frederic S. Mishkin
1st Edition
0262513374, 978-0262513371
