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Suppose that an investor wishes to deposit an amount now so that in 30 years $1,000,000 will be in an account that pays 10%
Suppose that an investor wishes to deposit an amount now so that in 30 years $1,000,000 will be in an account that pays 10% interest per year. compounded annually. a) What amount must be deposited now if the interest compounded annually? b) What amount must be deposited now if the interest compounded quarterly? c) What amount must be deposited now if the interest compounded monthly?
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Financial Accounting A Critical Approach
Authors: John Friedlan
4th edition
1259066525, 978-1259066528
