Question
Your anticipated wedding is three years from today. You don't know who your spouse will be but you do know that you are saving $5,000
Your anticipated wedding is three years from today. You don't know who your spouse will be but you do know that you are saving $5,000 today and $12,000 one year from today for this purpose. You also plan to pay the final $6,000 of anticipated costs on your wedding day. At a discount rate of 7.6 percent, what is the current cost of your upcoming wedding?
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Introductory Econometrics For Finance
Authors: Chris Brooks
2nd Edition
052169468X, 9780521694681
