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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Question
(Use Calculator or Formula Approach)
Suppose you need $15,000 in 3 years . If you can earn 6% annually, how much do you need to invest today?
If you could invest the money at 8%, would you have to invest more or less than at 6%? How much?
Transcribed Image Text:8. Suppose you need $15,000 in 3 years. If you can earn 6% annually, how much do you need to invest
today? If you could invest the money at 8%, would you have to invest more or less than at 6%? How
much?
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