Question
Over the next 5 years, the following cash flows will be deposited into an account that earns 5% per year: Year 1: 1,000 Year 2:
Over the next 5 years, the following cash flows will be deposited into an account that earns 5% per year: Year 1: 1,000 Year 2: 1,200 Year 3: 400 Year 4: 750 Year 5: ??? How much has to be deposited in Year 5 so that the account has a total of $4,000 the moment after making the deposit?
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Derivatives Markets
Authors: Robert McDonald
3rd Edition
978-9332536746, 9789332536746
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