Question
(Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw $9000
(Present value of complex cash flows)How much do you have to deposit today so that beginning 11 years from now you can withdraw
$9000 yearfor the next 8 years (periods 11 through 18)plus an additional amount of $18000 in the last year (period 18)? Assume an interest rate of 9 percent.
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Fundamentals Of Financial Institutions Management
Authors: Marcia Cornett, Anthony Saunders
1st Edition
0256253676, 9780256253672
