Question
You are now 20 years old. In 30 years, you hope to be able to buy a small investment property currently worth $ 10,000, but
You are now 20 years old. In 30 years, you hope to be able to buy a small investment property currently worth $ 10,000, but expected to appreciate at the rate of 12% per year. You plan to make equal monthly payments and the bank if offering you 5.25% on your investment. How much should you invest every month to be able to purchase the property?
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Multinational Business Finance
Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
14th edition
133879879, 978-0133879872
