Question
You invest $1000 at the beginning of each year for 20 years. The investment makes interest payments to you at the end of each year
You invest $1000 at the beginning of each year for 20 years. The investment makes interest payments to you at the end of each year at a 7% annual effective rate. You invest the interest payments in a fund that pays a 6% annual effective rate. What is your total accumulation at the end of the 20 years?
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Managing Currency Options In Financial Institutions
Authors: Yat-Fai Lam, Kin-Keung Lai
1st Edition
1138778052, 978-1138778054
