Mr Anderson, a pharmacist and the owner of a block of flats located at Twabidi, a first class residential area in Accra anticipates that he will need to provide a new stair case in 8 years’ time at an estimated cost of ¢7,500,000. If capital can be invested at 9.52% per annum, what amount should be invested to meet the future liability?
Mr Anderson, a pharmacist and the owner of a block of flats located at Twabidi, a first class residential area in Accra anticipates that he will need to provide a new stair case in 8 years’ time at an estimated cost of ¢7,500,000. If capital can be invested at 9.52% per annum, what amount should be invested to meet the future liability?
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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Mr Anderson, a pharmacist and the owner of a block of flats located at Twabidi, a first class residential area in Accra anticipates that he will need to provide a new stair case in 8 years’ time at an estimated cost of ¢7,500,000. If capital can be invested at 9.52% per annum, what amount should be invested to meet the future liability?
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