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Marvin would like to have $8,000 in 9 months for a vacation. He currently has $2,000 in an account paying 3.2% per year compounded monthly.
- Marvin would like to have $8,000 in 9 months for a vacation. He currently has $2,000 in an account paying 3.2% per year compounded monthly.
- How much would he have to deposit in 4 months in order to have $8,000 in the account in 9 months?
- What equal amounts would he have to deposit at the end of each month for the next 9 months in order to have to have $8,000 in the account in 9 months?
- What equal amounts would he have to deposit at the end of each month for the next 8 months in order to have to have $8,000 in the account in 9 months?
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Entrepreneurial Finance
Authors: J . chris leach, Ronald w. melicher
4th edition
538478152, 978-0538478151
