Question
you owe someone a lump sum of $270000 in 2 years. In order to meet this obligation you want to invest a fixed amount every
you owe someone a lump sum of $270000 in 2 years. In order to meet this obligation you want to invest a fixed amount every 3 months starting 3 months from today so that in 2 years you will have $270,000. If the investment earns 5.5% APR compounded monthly, how much must be deposited every 3 months?
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Financial Markets And Institutions A Modern Perspective
Authors: Anthony Saunders, Marcia Millon Cornett, Marcia Cornett
2nd Edition
007294109X, 978-0072941098
