You wish to invest $30,000 today in order to save $60,000 for a deposit to buy a house in several years’ time. How many years must you invest in order to have a future value of $60,000 if the interest rate is 12%?
You wish to invest $30,000 today in order to save $60,000 for a deposit to buy a house in several years’ time. How many years must you invest in order to have a future value of $60,000 if the interest rate is 12%?
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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You wish to invest $30,000 today in order to save $60,000 for a deposit to buy a house in several years’ time.
How many years must you invest in order to have a
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