The New York Soccer Association would like to accumulate R10,000 by the end of 4 years from now to finance a big soccer weekend for its members. The Association currently has R2,500 and wishes to raise the balance by arranging annual fund-raising events. How much money should they raise at each annual fund-raising event assuming 8 percent rate of interest?
The New York Soccer Association would like to accumulate R10,000 by the end of 4 years from now to finance a big soccer weekend for its members. The Association currently has R2,500 and wishes to raise the balance by arranging annual fund-raising events. How much money should they raise at each annual fund-raising event assuming 8 percent rate of interest?
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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The New York Soccer Association would like to accumulate R10,000 by the end of 4 years from now to finance a big soccer weekend for its members. The Association currently has R2,500 and wishes to raise the balance by arranging annual fund-raising events. How much money should they raise at each annual fund-raising event assuming 8 percent rate of interest?
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