You want to have $56,000 in your bank account 4 years from now, in order to have enough for a belated honeymoon trip to the Maldives! How much do you have to set aside today in your bank account to reach this goal if your bank pays 3.9 percent interest to its depositors? O $66,652.32 O $65,260.47 O $57,486.38 O $48,053.59 O $47,037.23 O $43,749.41
You want to have $56,000 in your bank account 4 years from now, in order to have enough for a belated honeymoon trip to the Maldives! How much do you have to set aside today in your bank account to reach this goal if your bank pays 3.9 percent interest to its depositors? O $66,652.32 O $65,260.47 O $57,486.38 O $48,053.59 O $47,037.23 O $43,749.41
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 34P
Related questions
Question
Vijay
Transcribed Image Text:You want to have $56,000 in your bank account 4 years from now,
in order to have enough for a belated honeymoon trip to the
Maldives! How much do you have to set aside today in your bank
account to reach this goal if your bank pays 3.9 percent interest to
its depositors?
O $66,652.32
O $65,260.47
O $57,486.38
O $48,053.59
O $47,037.23
O $43,749.41
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