Question
Your parents agree to pay two-thirds of the purchase price of a new car when you graduate from college. You will graduate and buy the
Your parents agree to pay two-thirds of the purchase price of a new car when you graduate from college. You will graduate and buy the car 3 years from now. You have 4,000 to invest today and can earn 12% on invested funds. If your parents deposit twice the amount of money you invest at the same rate, in 3 years what is the maximum you can spend on the new car?
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International financial management
Authors: Jeff Madura
12th edition
1133947832, 978-1305195011, 978-1133947837
