Question
Suppose you have just started with your career and got your dream job with a salary of $200,000 per year. You are now aspire to
Suppose you have just started with your career and got your dream job with a salary of $200,000 per year. You are now aspire to buy a house but do not want to get a bank loan. The average price of your dream house is $500,000 today and its price is growing at 5 percent per year. How much should you invest in a project at the end of each year for the next 5 years in order to accumulate enough money to buy that house with cash at the end of the fifth year? Assume the project pays 12 percent rate of return.
Please solve as fast as possible. My exams are going on
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