a. How much do you have to save per year (at the end of each year) for
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a. How much do you have to save per year (at the end of each year) for 40 years in order to have $10,000 per year for perpetuity, first receipt starting in year 41? Use 0.10 as the time value factor.
b. If the interest rate being earned is 0.04 per quarter, compounded quarterly, what is the annual equivalent rate?
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An Introduction To Accounting And Managerial Finance A Merger Of Equals
ISBN: 9789814273824
1st Edition
Authors: Harold JR Bierman
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