Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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A company needs $350,000 to pay a debt four years from now. The company can place cash in
a 5% compounding interest-bearing account. How much money should the company invest
today in order to meet the goal? Round to the nearest whole dollar.
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Transcribed Image Text:A company needs $350,000 to pay a debt four years from now. The company can place cash in a 5% compounding interest-bearing account. How much money should the company invest today in order to meet the goal? Round to the nearest whole dollar.
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