Question
Today, Li has $900,000 (treat this as a cash inflow) in an account that gives an 8% return each year. He has been investing $7,000
Today, Li has $900,000 (treat this as a cash inflow) in an account that gives an 8% return each year. He has been investing $7,000 a year at the end of each year for 30 years. How much did he have in his account 30 years ago?
rate=
nper=
pmt=
fv=
type=
pv=
please also explain or show formula used in order to find out PV
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School Finance A Policy Perspective
Authors: Allan Odden, Lawrence Picus
6th Edition
1259922316, 9781259922312
