Question
Jacob's investment manager offers him an interest rate of 8.0% compounded monthly on his investments. If the manager changes his mind and offers him a
Jacob's investment manager offers him an interest rate of 8.0% compounded monthly on his investments. If the manager changes his mind and offers him a rate of 8.0% compounded annually how much more would he have to deposit at the end of each year in order to accumulate $425,000 in 30 years?
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Basic Finance An Introduction to Financial Institutions, Investments and Management
Authors: Herbert B. Mayo
11th Edition
1285425790, 1285425795, 9781305464988 , 978-1285425795
