A person wants to open a small business and according to his investment project he requires $150,000. If you save $8,500 every 4 months in an account that earns you 10% convertible quarterly A) Determine the number of $8,500 deposits you must make and the final deposit amount (if any). B) What is the cash value of the project?
A person wants to open a small business and according to his investment project he requires $150,000. If you save $8,500 every 4 months in an account that earns you 10% convertible quarterly A) Determine the number of $8,500 deposits you must make and the final deposit amount (if any). B) What is the cash value of the project?
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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4. A person wants to open a small business and according to his investment project he requires $150,000. If you save $8,500 every 4 months in an account that earns you 10% convertible quarterly
A) Determine the number of $8,500 deposits you must make and the final deposit amount (if any).
B) What is the cash value of the project?
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