Question
How much must be deposited today in an account earning 9% annually to accumulate a 20% down payment to use in purchasing a car one
| How much must be deposited today in an account earning 9% annually to accumulate a 20% down payment to use in purchasing a car one year from now, assuming that the car's current price is $35,000, and inflation will be 4%? |
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Financial Risk Manager Handbook
Authors: Philippe Jorion, Global Association Of Risk Professionals
5th Edition
0470479612, 978-0470479612
