Question
You would like to have $ 100,000 in 8 years. To accumulate this amount you plan to deposit each year an equal amount in the
You would like to have $ 100,000 in 8 years. To accumulate this amount you plan to deposit each year an equal amount in the bank, which will earn 6% interest compounded annually.
Your first payment will be made at the end of the year.
How much must you deposit annually to accumulate this amount?
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Fixed Income Securities Valuation Risk and Risk Management
Authors: Pietro Veronesi
1st edition
0470109106, 978-0470109106
