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A couple planned to build a P2, 500, 000-house in 5 years. since their funds are not yet enough to finance it now, they have decided to invest it first in an institution that pays 7% simple interest How much should they invest to have such amount in 5 years? Select the correct response: O 1,956, 742.89 O 1,000, 000.00 O 1,851, 851.852 O 1, 500.650.24

A couple planned to build a P2, 500, 000-house in 5 years. since their funds are not yet enough to finance it now, they have decided to invest it first in an institution that pays 7% simple interest How much should they invest to have such amount in 5 years? Select the correct response: O 1,956, 742.89 O 1,000, 000.00 O 1,851, 851.852 O 1, 500.650.24

Essentials Of Investments
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
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A couple planned to build a P2, 500, 000-house in 5 years. since their funds are not yet enough to finance it now, they have decided to invest it first in an institution that pays 7% simple interest. How much should they invest to have such amount in 5 years? Select the correct response: 1,956, 742.89 O 1,000, 000.00 O 1,851, 851.852 O 1, 500.650.24
Transcribed Image Text:A couple planned to build a P2, 500, 000-house in 5 years. since their funds are not yet enough to finance it now, they have decided to invest it first in an institution that pays 7% simple interest. How much should they invest to have such amount in 5 years? Select the correct response: 1,956, 742.89 O 1,000, 000.00 O 1,851, 851.852 O 1, 500.650.24
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