Question
You wish to have $500,000 in the bank ten years from today for a trip to Berlin. You will deposit just enough money into an
You wish to have $500,000 in the bank ten years from today for a trip to Berlin. You will deposit just enough money into an account today for that purpose. The account will pay 16 percent nominal interest compounded annually. How much money do you need to deposit in the account today? A. $23,450.54 B. $20,215.98 C. $2,205,717.54 D. $50,000.00 E. $113,341.80
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School Finance A Policy Perspective
Authors: Allan Odden, Lawrence Picus
6th Edition
1259922316, 9781259922312
