Question
You have won a lottery which will pay $25,000 into your savings account annually over 10 years, with the first payment to be received at
You have won a lottery which will pay $25,000 into your savings account annually over 10 years, with the first payment to be received at the beginning of the first year.
Required:
How much money do you have in your account after 10 years if the current market interest rates are 8.00 % per annum compounded annually?
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Practical Financial Management
Authors: William R. Lasher
4th Edition
0324260768, 9780324260762
