Question
You want to have $31,664 in cash to buy a car in 4 years. You expect to earn 11.5% per year on your savings. How
You want to have $31,664 in cash to buy a car in 4 years. You expect to earn 11.5% per year on your savings. How much do you need to deposit today if this is the only money you save for this purpose?
| a. | 10,600 | |
| b. | 17,486.34 | |
| c. | 25,486.43 | |
| d. | 20,486.43 |
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Investment Science
Authors: David G. Luenberger
1st International Edition
0195391063, 9780195391060
