Question
You are expecting to receive $1,500 in a lump sum in three years from now. If the interest rate in year 1 is 1.5%, interest
You are expecting to receive $1,500 in a lump sum in three years from now. If the interest rate in year 1 is 1.5%, interest rate in year 2 is 2.5% and interest rate is 4% in year 3, how much in a lump sum that you need to deposit today in order to be able to collect $1,500 at the end of three years from today?
- A. $1,623.23
- B. $1,622.99
- C. $1,434.48
- D. $1,396.15
- E. $1,386.33
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Personal Finance Turning Money Into Wealth
Authors: Arthur J. Keown
6th Edition
0132719169, 978-0132719162
