Question
Your friend has a trust fund that will pay him $623 at the end of 6 years. Your friend, however, wants his money today. He
Your friend has a trust fund that will pay him $623 at the end of 6 years. Your friend, however, wants his money today. He promises to sign his trust fund over to you if you give him some money today. You require a 17% interest rate on money you lend to friends. How much would you be willing to lend under these terms?
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Personal Finance For Dummies
Authors: Eric Tyson
9th Edition
1119517893, 978-1119517894
