Need help with 5a - 5b Listen Problem 5: Calculating the Number of Periods/Present Value. You are trying to save to buy a new $28,000
Need help with 5a - 5b
Listen Problem 5: Calculating the Number of Periods/Present Value. You are trying to save to buy a new $28,000 Volkswagen. You have $5,000 today that can be invested at your bank. 5a. The bank pays 5.00% annual interest on its accounts. How long will it be before you have enough to buy the car? It will be _years. Question 18 (5 points) Listen 5b. Instead of depositing funds in the bank you decide to invest in a mutual fund that you believe will achieve an 6.00% annual rate of return. You want to buy the car in 10 years on the day you turn 35, how much must you invest today? I must invest $ today.
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Authors: Eugene F. Brigham and Michael C. Ehrhardt
13th edition
1439078106, 111197375X, 9781439078105, 9781111973759, 978-1439078099
