Question
You want to purchase a house in seven years. In seven years, you need $20,000 for a down payment. Currently you have $10,000 to invest.
You want to purchase a house in seven years. In seven years, you need $20,000 for a down payment. Currently you have $10,000 to invest. Using the following formula r = 100[(FV/PV)1/n - 1] What is the interest rate that you would need to earn?
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Money Banking And Financial Markets
Authors: Stephen Cecchetti, Kermit Schoenholtz
3rd Edition
007337590X, 9780073375908
