Question
Sylvia wants to go on a cruise in 3 years. She could earn 5.7 percent compounded monthly in a bank account if she were to
Sylvia wants to go on a cruise in 3 years. She could earn 5.7 percent compounded monthly in a bank account if she were to deposit the money today. She needs to have 14,000 dollars in 3 years. How much will she have to deposit today? (Round to the nearest dollar).
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
6th International Edition
0071229035, 978-0071229036
