You want to make an investment that will yield a lump sum of $ 90,397 in 3 years. You will invest at a nominal rate of 18 %. How much do you need to invest today to reach the above future value? Record your answer as a dollar amount rounded to 2 decimal places , but do not include a dollar sign or any commas in your answer . For example , enter $ 12,327.24987 as 12327.25 .
You want to make an investment that will yield a lump sum of $ 90,397 in 3 years. You will invest at a nominal rate of 18 %. How much do you need to invest today to reach the above future value? Record your answer as a dollar amount rounded to 2 decimal places , but do not include a dollar sign or any commas in your answer . For example , enter $ 12,327.24987 as 12327.25 .
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 want to make an investment that will yield a lump sum of $ 90,397 in 3 years. You will invest at a nominal rate of 18 %. How much do you need to invest today to reach the above future value ? Record your answer as a dollar amount rounded to 2 decimal places , but do not include a dollar sign or any commas in your answer . For example , enter $ 12,327.24987 as 12327.25 .
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