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Time Value of Money Questions Problem 3: How many years will it take for an intial investment of $2000, earning, 5.4% annually, to reach $10,000?
Time Value of Money Questions
Problem 3: How many years will it take for an intial investment of $2000, earning, 5.4% annually, to reach $10,000? Problem 4: You have future plans to buy a house 5 years from now. You estimate that a down payment of $20,000 will be required at that time. To accumulate that amount, you want to start making monthly payments into an account paying! 3.9% interest. What will your monthly payments be? NPER I/Y (Rate) NPER I/Y (Rate) 3.90% 5.40% 2000 PV PV PMT PMT FV 10000 FV 20,000 Compounding Periods CPT (Compute) ? Compounding Periods CPT (Compute) ? 30.60Step by Step Solution
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