Question
Hi i have a question related to Financial Management course. How can i solve this problem? Thank you. 1)You are celebrating your 25 th birthday
Hi i have a question related to Financial Management course. How can i solve this problem? Thank you.
1)You are celebrating your 25th birthday today. You plan to invest $2,000 annually, with the first $2,000 invested on your 26th birthday and the last invested on your 60th birthday.
a.What is the value of this investment on your 61st birthday if all invested funds earn 6% annually?
b.What interest rate do you need to earn for the investment to be worth $300,000 on your 61st birthday?
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Management
Authors: Chuck Williams
4th Edition
978-0324316797, 0324316798
