Question
Stephen plans to purchase a car 5 years from now. The car will cost $59,568 at that time. Assume that Stephen can earn 3.78 percent
Stephen plans to purchase a car 5 years from now. The car will cost $59,568 at that time. Assume that Stephen can earn 3.78 percent (compounded monthly) on his money. How much should he set aside today for the purchase?
Round the answer to two decimal places.
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Foundations Of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
18th Edition
126409762X, 9781264097623
