Question
How much must be deposited today into the following account in order to have $40,000 in 6 years for a down payment on a house?
How much must be deposited today into the following account in order to have $40,000 in 6 years for a down payment on a house? Assume no additional deposits are made.
An account with a monthly compounding and an APR of 4%
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Fundamentals Of Corporate Finance
Authors: Richard A. Brealey, Marcus, Alan J, Myers, Stewart C.
2nd Edition
0070074860, 9780070074866
