Question
Ten years ago, Hailey invested $2,600 and locked in a 9 percentannual interestrate for 30 years (end 20 years from now). Aidan can make a
Ten years ago, Hailey invested $2,600 and locked in a 9 percentannual interestrate for 30 years (end 20 years from now). Aidan can make a 20-year investment today and lock in a 10 percentinterest rate.
How much money should heinvestnow in order to have the same amount of money in 20 years as Hailey?(Do not roundintermediate calculationsand round your final answer to 2 decimal places.)
Present value=?
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Financial Accounting Information for Decisions
Authors: John Wild
7th edition
78025893, 978-0078025891
