Kershaw wishes to accumulate $2 million by the end of 40 years by making equal annual end-of-year deposits over the next 40 years. If he can earn 10 percent on his investments, how much must he deposit at the end of each year? Must Identify variables and use excel m Nper (or N) =n*m Rate (or I/Y)=i/m PV PMT FV
Kershaw wishes to accumulate $2 million by the end of 40 years by making equal annual end-of-year deposits over the next 40 years. If he can earn 10 percent on his investments, how much must he deposit at the end of each year? Must Identify variables and use excel m Nper (or N) =n*m Rate (or I/Y)=i/m PV PMT FV
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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Kershaw wishes to accumulate $2 million by the end of 40 years by making equal annual end-of-year deposits over the next 40 years. If he can earn 10 percent on his investments, how much must he deposit at the end of each year?
Must Identify variables and use excel
m |
Nper (or N) =n*m |
Rate (or I/Y)=i/m |
PV |
PMT |
FV |
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