A businessman wants to have $500,000 four years from now. What amount should he invest now if it will earn interest of 6% compounded quarterly for the first two years and 8% compounded semi annually during the next two years.
A businessman wants to have $500,000 four years from now. What amount should he invest now if it will earn interest of 6% compounded quarterly for the first two years and 8% compounded semi annually during the next two years.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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A businessman wants to have $500,000 four years from now. What amount should he invest now if it will earn interest of 6% compounded quarterly for the first two years and 8% compounded semi annually during the next two years.
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