Question
Today, James Dunlop celebrated his 100 th birthday. Exactly 75 years ago, on his 25 th birthday, James started working for Ford. He started depositing
Today, James Dunlop celebrated his 100th birthday.
Exactly 75 years ago, on his 25th birthday, James started working for Ford. He started depositing $150 every month to a retirement account. Deposits were made end of every month. Ford also deposited the money - matched it at 100%. Matching funds were deposited annually, end of every year. The account at Ford paid interest at 7.2 percent per year compounded monthly.
Question 1: How much did James transfer from Ford to GM?
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Foundations Of Financial Management
Authors: Stanley B. Block, Geoffrey A. Hirt, Bartley R. Danielsen
13th Edition
0073382388, 978-0073382388
