You are scheduled to receive $10,000 in two years. When you receive it, you will invest it for six more years at 6.8 percent per year. How much will you have in eight years? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
You are scheduled to receive $10,000 in two years. When you receive it, you will invest it for six more years at 6.8 percent per year. How much will you have in eight years? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
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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You are scheduled to receive $10,000 in two years. When you receive it, you will invest it for six more years at 6.8 percent per year. How much will you have in eight years?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
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Present value means today's value of the future value of money. It means that the present time received is more valuable as compared to the value received in the future.
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