You want to have $63,969 in 8 years. You plan to invest $12,600 in 3 years in investment A, which has an expected return of 14.24 percent per year. You also plan to invest $X in 5 years in investment B, which has an expected return of 14.99 percent per year. What is X?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
icon
Related questions
Question
Don't used Ai solution
You want to have $63,969 in 8 years. You plan to invest $12,600 in 3 years in investment A,
which has an expected return of 14.24 percent per year. You also plan to invest $X in 5 years
in investment B, which has an expected return of 14.99 percent per year. What is X?
Transcribed Image Text:You want to have $63,969 in 8 years. You plan to invest $12,600 in 3 years in investment A, which has an expected return of 14.24 percent per year. You also plan to invest $X in 5 years in investment B, which has an expected return of 14.99 percent per year. What is X?
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT