Brenda expects to receives Sh.50,000 at the end of each year for 5 years in a fund earning 10% per annum. Required: How much should Brenda invest now to receive the Sh.50,000 at the end of each year?
Brenda expects to receives Sh.50,000 at the end of each year for 5 years in a fund earning 10% per annum. Required: How much should Brenda invest now to receive the Sh.50,000 at the end of each year?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 11E
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Question
Brenda expects to receives Sh.50,000 at the end of each year for 5 years in a fund earning 10% per annum.
Required:
How much should Brenda invest now to receive the Sh.50,000 at the end of each year?
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