How much would you need to deposit in an account now in order to have $6000 in the account in 15 years? Assume the account earns 6% interest compounded monthly. show formule and steps.
How much would you need to deposit in an account now in order to have $6000 in the account in 15 years? Assume the account earns 6% interest compounded monthly. show formule and steps.
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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How much would you need to deposit in an account now in order to have $6000 in the account in 15 years? Assume the account earns 6% interest compounded monthly.
show formule and steps.
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