Question
You are interested in buying a property that will cost you $10 million.You currently have $1.3 million and can earn interest at the rate of
You are interested in buying a property that will cost you $10 million.You currently have $1.3 million and can earn interest at the rate of 6% per year and save $40,000 each six monthly period which you can contribute to your savings (being $80,000 over the course of each year). Approximately how long will you have to wait before you buy this property?
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Derivatives Markets
Authors: Robert McDonald
3rd Edition
978-9332536746, 9789332536746
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