Question
You want to accumulate $100,000 by the end of 18 years. The interest rate is 7%. a. How much do you have to invest today
You want to accumulate $100,000 by the end of 18 years. The interest rate is 7%.
a. How much do you have to invest today to achieve your goal if interest is compounded annually?
b. How much do you have to invest today to achieve your goal if interest is compounded semiannually?
c. How much do you have to invest today to achieve your goal if interest is compounded quarterly?
d. How much do you have to invest today to achieve your goal if interest is compounded monthly?
e. How much do you have to invest today to achieve your goal if interest is compounded daily?
USE FINANCIAL CALCULATOR AND SHOW WORK
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The Theory And Practice Of Investment Management
Authors: Frank J Fabozzi, Harry M Markowitz
2nd Edition
0470929901, 9780470929902
