One year ago, Sinem deposited $80,000 in her investment account for the purpose of buying a flat fuve years from today. Today she is adding another $20,000 to her account. She plans on making a final deposit of $35,000 to the account one year from today. If the interest rate is 10% how much cash will be available in her investment account when she is ready to buy the flat?
One year ago, Sinem deposited $80,000 in her investment account for the purpose of buying a flat fuve years from today. Today she is adding another $20,000 to her account. She plans on making a final deposit of $35,000 to the account one year from today. If the interest rate is 10% how much cash will be available in her investment account when she is ready to buy the flat?
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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One year ago, Sinem deposited $80,000 in her investment account for the purpose of buying a flat fuve years from today. Today she is adding another $20,000 to her account. She plans on making a final deposit of $35,000 to the account one year from today. If the interest rate is 10% how much cash will be available in her investment account when she is ready to buy the flat? (Round 2 decimal places e.g 18.64)
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