Question
You want to purchase a new boat 5 years from now. You expect the boat to cost $7,000 5 years from now. You can earn
You want to purchase a new boat 5 years from now. You expect the boat to cost $7,000 5 years from now. You can earn 7% on your savings. How much would you have to deposit today to have enough to buy the boat in 5 years?
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Financial Institutions Management A Risk Management Approach
Authors: Marcia Cornett, Patricia McGraw, Anthony Saunders
8th edition
978-0078034800, 78034809, 978-0071051590
