Suppose that you can earn 15% compounded monthly. You would like to have $100,000 in 5 years. You already have $10,000 saved. How much should you put away every month to have that amount in 5 years? Find this datum using GoalSeek.

Suppose that you can earn 15% compounded monthly. You would like to have $100,000 in 5 years. You already have $10,000 saved. How much should you put away every month to have that amount in 5 years? Find this datum using GoalSeek.

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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Suppose that you can earn 15% compounded monthly. You would like to have
$100,000 in 5 years. You already have $10,000 saved. How much should you
put away every month to have that amount in 5 years? Find this datum using
GoalSeek.

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