Question
Suppose you know you will need $2,500 two years from now in order to make a down payment on a car. BankOne is offering 4%
Suppose you know you will need $2,500 two years from now in order to make a down payment on a car. BankOne is offering 4% interest (compounded annually) for two-year accounts, and BankTwo is offering 4.5% (compounded annually) for two-year accounts. How much will you need to invest in BankOne to reach your goal?
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A Fast And Frugal Finance
Authors: William P. Forbes, Aloysius Igboekwu, Shabnam Mousavi
1st Edition
0128124954, 978-0128124956
