Question
Let's assume that one of your dreams is to invest in the purchase of an apartment in 5 years from now; You estimate that the
Let's assume that one of your dreams is to invest in the purchase of an apartment in 5 years from now; You estimate that the down payment at that time will be $35,000. How much do you need to deposit at the end of each year in the next 4 years to accumulate the $35,000 if you can earn 8% per year compounded semi-annually on those deposits?
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To calculate the amount you need to deposit at the end of each year to accumulate 35000 in 5 y...
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
