Question
Howard is saving for a long holiday. He deposits a fixed amount every month in a bank account with an EAR of 13.2 13.2%. If
Howard is saving for a long holiday. He deposits a fixed amount every month in a bank account with an EAR of 13.2
13.2%. If this account pays interest every month then how much should he save from each monthly paycheck in order to have $ 15 comma 000
$15,000 in the account in four
four years' time?
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International Financial Management
Authors: Cheol Eun, Bruce G. Resnick
8th edition
125971778X, 978-1259717789
