Question
You are considering to deposit $1000 into a 7.9% savings account every year over the next 13 years. Alternatively, you can just deposit one larger
You are considering to deposit $1000 into a 7.9% savings account every year over the next 13 years. Alternatively, you can just deposit one larger sum of money in the account today, and no additional deposits in the coming years. How much would the have to put in the account today to reach the same sum of money after 13 years?
(Round your answer to the nearest dollar)
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Options Futures And Other Derivatives
Authors: John C. Hull
9th Edition
0133456315, 9780133456318
