Katya wants to make 100 deposits to a bank account. She wants the total present value of the payments to be exactly $200,000. The first 99 deposits of $3,800 will be made monthly, starting one month from today. How much will the 100th deposit be if it is made 100 months from today, assuming that Katya’s effective annual interest rate is 20%
Katya wants to make 100 deposits to a bank account. She wants the total present value of the payments to be exactly $200,000. The first 99 deposits of $3,800 will be made monthly, starting one month from today. How much will the 100th deposit be if it is made 100 months from today, assuming that Katya’s effective annual interest rate is 20%
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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Katya wants to make 100 deposits to a bank account. She wants the total
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