Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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An investor is purchasing an industrial building. He needs to replace the roof today
at a cost of $50,000. The economic life of the roof is 20 years. Inflation is 3.0%. He
has an investment account that yields 6.0 % . How much must he put aside monthly
to cover the future cost of the roof?
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