Question
What annual interest rate, compounded semi-annually for 8 years, will be needed for An investment of $15,000, to grow to $45,000? Let's assume that you
What annual interest rate, compounded semi-annually for 8 years, will be needed for An investment of $15,000, to grow to $45,000?
Let's assume that you want to buy a house in 7 years and estimate that the prompt payment and Necessary initial expenses will be $40,000 at that time. How much do you need to deposit to the beginning of each year in the next 7 years to accumulate the $40,000 if you can earn 8% annually compound semi-annually on your deposits?
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Corporate Finance A Focused Approach
Authors: Michael C. Ehrhardt, Eugene F. Brigham
6th edition
1305637100, 978-1305637108
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