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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Can some one please help me to solve this question? Please and thank you!!
Transcribed Image Text:Suppose you make 30 annual investments in a fund that pays 3% compounded
annually. If your first deposit is $8,000 and each successive deposit is 3% greater
than the preceding deposit, Find the present value of all investments. Hint: You
should use Pg=A1*(n/(1+i)) formula.
a) 233,009
b) 30,450
c) 47,652
O d) 77,669
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