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You plan to buy a condominium in about 18 years. A representative from Lam's Financial approaches you and shows you a way that you can
You plan to buy a condominium in about 18 years. A representative from Lam's Financial approaches you and shows you a way that you can have a down payment of $25,000 in 18 years. This is the how it works: You invest a lump sum of money now. For the first 6 years your money earns 5% compounded annually. For the next 6 years that money earns 3 % compounded semi-annually For the last 6 years it earns 2% compounded weekly. How much should your original investment be in order to have the $25,000 in 18 years
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