Cris Li decided to go into the business at the age of 23, he deposits a certain amount and will increase the deposit by 15,000 each year until the age of 33 to reach 20M on that age. If the fund can be invested at 15% compounded annually, how much should his initial investment be? DRAW THE CASH FLOW DIAGRAM.
Cris Li decided to go into the business at the age of 23, he deposits a certain amount and will increase the deposit by 15,000 each year until the age of 33 to reach 20M on that age. If the fund can be invested at 15% compounded annually, how much should his initial investment be? DRAW THE CASH FLOW DIAGRAM.
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
Problem 1PS
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Transcribed Image Text:Cris Li decided to go into the business at the age of 23, he deposits a certain amount and
will increase the deposit by 15,000 each year until the age of 33 to reach 20M on that
age. If the fund can be invested at 15% compounded annually, how much should his
initial investment be? DRAW THE CASH FLOW DIAGRAM.
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