Question
Joe expects to receive a gift of $1,000 when he graduates one year from today. Joe can invest his gift at 6% compounded annually and
Joe expects to receive a gift of $1,000 when he graduates one year from today. Joe can invest his gift at 6% compounded annually and he would like to use the funds in four years to purchase an engagement ring for Mabel. How much will he have in four years to spend on a ring?
A.$1,200.00
B.$1,180.00
C.$1,175.00
D.$1,191.02
E.$1,262.48
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The Handbook Of Equity Market Anomalies
Authors: Leonard Zacks
1st Edition
0470905905, 978-0470905906
