Question
Your child is planning attend summer camp for three months, starting 5 months from now. The cost for camp is $1,070 per month, each month,
Your child is planning attend summer camp for three months, starting 5 months from now. The cost for camp is $1,070 per month, each month, for the three months she will attend.
If your investments earn 6% APR (compounded monthly), how much must you invest today such that your investment will grow to just cover the cost of the camp?
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Investments
Authors: William F. Sharpe, Gordon J. Alexander, Jeffery V. Bailey
6th Edition
8120321014, 978-8120321014
