Question
Father promise to give ksh 100000 in cash on 25th birthday. Today is 16th birthday. Wants to know.a) If he decides to make annual payments
Father promise to give ksh 100000 in cash on 25th birthday. Today is 16th birthday. Wants to know.a) If he decides to make annual payments into a fund after 1 year, how much will each have to be if the fund pays 8%? b) he decides to invest a lump sum in account after 1 year and let it compound annually, how much will the lump sum be?
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Managerial Economics A Problem Solving Approach
Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
4th edition
1305259335, 978-1305259331
