Question
You are considering investing in a retirement fund that requires you to deposit 5,000 per year, and you want to know how much the fund
You are considering investing in a retirement fund that requires you to deposit 5,000 per year, and you want to know how much the fund will be worth when you retire. What financial technique should you use to calculate this value?
a. Present value of a perpetuity
b. Present value of an annuity
c. Future value of a single payment
d. Future value of an annuity
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett
6th Edition
0077211332, 9780077211332
