Question
You are going to put some money in your bank and let it grow. You are only going to make a single payment, and then
You are going to put some money in your bank and let it grow. You are only going to make a single payment, and then leave it alone for 15 months after. Your bank account will provide 4.0% annual rate on your money. If you need to have $23,758.38 after 15 months, then how much should you deposit?
Note: Answer with dollars and cents rounded to the nearest cent. Do not round intermediate calculations.
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Fundamentals of Corporate Finance
Authors: Berk, DeMarzo, Harford
2nd edition
132148234, 978-0132148238
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