You are going to invest $6829 in 1 years and $7200 in 4 years. If you expect to earn a return of 9.51%, how much will you have in 11 years? Answer:
You are going to invest $6829 in 1 years and $7200 in 4 years. If you expect to earn a return of 9.51%, how much will you have in 11 years? Answer:
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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You are going to invest $6829 in 1 years and $7200 in 4 years. If you expect to earn a return of 9.51%, how much will you have in 11 years?
Answer:
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The time value of money is a fundamental concept in finance that recognizes the idea that money today is worth more than the same amount of money in the future. The concept is based on the fact that money can earn interest or grow over time due to investment opportunities or inflation.
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