MINDTAP FINANCE FOR GARMAN/FORGUE'S PER
MINDTAP FINANCE FOR GARMAN/FORGUE'S PER
13th Edition
ISBN: 9781337288347
Author: FORGUE
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Chapter 5, Problem 5DTM
Summary Introduction

To calculate: The value of retirement fund after 40 years.

Introduction: Time value of money is the concept of finance which calculates the effect of time over the value of money. As per this concept the present value of a future amount is lower than the future value. The present value/ future value of an amount are calculated using the interest rate as discount rate.

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