Suppose you start saving today for a $30,000 down payment that you plan to make on a house in 7 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you have to deposit now to reach your $30,000 goal in 7 years. An account with daily compounding and an APR of 8% You should invest $. (Do not round until the final answer. Then round to two decimal places as needed.)
Suppose you start saving today for a $30,000 down payment that you plan to make on a house in 7 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you have to deposit now to reach your $30,000 goal in 7 years. An account with daily compounding and an APR of 8% You should invest $. (Do not round until the final answer. Then round to two decimal places as needed.)
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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