Question
Jana is saving to pay off an obligation of $90,000 which will be due in nine years. If the investor is earning 9.5% effective annual
Jana is saving to pay off an obligation of $90,000 which will be due in nine years. If the investor is earning 9.5% effective annual interest rate, how much must be deposited as a single deposit now to meet this obligation? If she use compound interest?
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
13th Edition
1337395080, 9781337395083
