Your older sister deposited $100,000 today at 12.5 percent interest for 10 years. You would like to have just as much money at the end of the next 10 years as your sister will have. However, you can only earn 10 percent interest. How much more money must you deposit today than your sister did if you are to have the same amount at the end of the 10 years? Question 6 options: 25,198 20,614 15,398 10,568 12,460
Your older sister deposited $100,000 today at 12.5 percent interest for 10 years. You would like to have just as much money at the end of the next 10 years as your sister will have. However, you can only earn 10 percent interest. How much more money must you deposit today than your sister did if you are to have the same amount at the end of the 10 years? Question 6 options: 25,198 20,614 15,398 10,568 12,460
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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Question
Your older sister deposited $100,000 today at 12.5 percent interest for 10 years. You would like to have just as much money at the end of the next 10 years as your sister will have. However, you can only earn 10 percent interest. How much more money must you deposit today than your sister did if you are to have the same amount at the end of the 10 years?
Question 6 options:
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25,198 |
|
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20,614 |
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15,398 |
|
|
10,568 |
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12,460 |
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