Question
Zachary has purchased an investment that he expects to produce income of $3,000 at the end of the first year and $4,000 at the end
Zachary has purchased an investment that he expects to produce income of $3,000 at the end of the first year and $4,000 at the end of the second year. If he requires an 8% rate of return compounded annually, what is the maximum amount that he can pay and still earn the required rate of return?
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Comparative Public Budgeting
Authors: George M Guess
2nd Edition
1316648109, 978-1316648100
