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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You are planning to buy a house in 8 years. You would like to be able to make a down payment of $67,800. The stated
interest rate is 13% (APR). If interest is compounded continuously, how much will you need to invest today in order to
make the down payment?
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Transcribed Image Text:You are planning to buy a house in 8 years. You would like to be able to make a down payment of $67,800. The stated interest rate is 13% (APR). If interest is compounded continuously, how much will you need to invest today in order to make the down payment?
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