You would like to take a trip in 10 years that is expected to cost $55,000 at that time. If you can invest money today at a rate of 8%, how much would you need to deposit today to fund this trip? PLEASE BREAK DOWN
You would like to take a trip in 10 years that is expected to cost $55,000 at that time. If you can invest money today at a rate of 8%, how much would you need to deposit today to fund this trip? PLEASE BREAK DOWN
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
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You would like to take a trip in 10 years that is expected to cost $55,000 at that time. If you can invest money today at a rate of 8%, how much would you need to deposit today to fund this trip? PLEASE BREAK DOWN
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