John had 2000 € on his account in the end of 2017. He wants to have 10 000 € by the end of year 2024. How much should he deposit annually at the end of every year between 2018 and 2024 to save that amount? His account has 2 % interets rate and the source tax is 30 %. Consider carefully the signs of the amounts to get the correct answer! Present value Future value Number of payments Interest rate Source tax Net interest rate Payment
John had 2000 € on his account in the end of 2017. He wants to have 10 000 € by the end of year 2024. How much should he deposit annually at the end of every year between 2018 and 2024 to save that amount? His account has 2 % interets rate and the source tax is 30 %. Consider carefully the signs of the amounts to get the correct answer! Present value Future value Number of payments Interest rate Source tax Net interest rate Payment
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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John had 2000 € on his account in the end of 2017. He wants to have 10 000 € by the end of year 2024. How much should he de
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John had 2000 € on his account in the end of 2017. He wants to have 10 000 € by
the end of year 2024. How much should he deposit annually at the end of every year
between 2018 and 2024 to save that amount? His account has 2 % interets rate and
the source tax is 30 %.
Present value
Future value
Number of payments
Interest rate
Consider carefully the
signs of the amounts to
get the correct answer!
Source tax
Net interest rate
Payment
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