Question
You invest $6,000 You wish to put money into a savings account to earn enough to make a down payment on a house in 10
You invest $6,000 You wish to put money into a savings account to earn enough to make a down payment on a house in 10 years.
You pay $6,000 for a security that you expect will be worth $25,000 exactly 10 years from now. The security will make no intermediate payments.
What is your annual return on this security?
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Fundamentals Of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
14th Edition
0135175216, 978-0135175217
