Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Misty needs to have
$20,000
at the end of
6
years to fulfill her goal of purchasing a small sailboat. She is willing to invest a lump sum today and leave the money untouched for
6
years until it grows to
$20,000,
but she wonders what sort of investment return she will need to earn to reach her goal. Use your calculator or spreadsheet to figure out the annually compounded
$13,900
today.
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