Suppose you would like to have a $ 2 4 5 0 0 0 in the future

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Question:

Suppose you would like to have a $

245000

in the future to buy a car. If you believe your mutual fund that you invest your money in can achieve an annual rate of return of

11.2 %

and you want to buy the car in nine years from now, how much must you invest today?

Related Book For answer-question

Foundations of Finance The Logic and Practice of Financial Management

ISBN: 978-0132994873

8th edition

Authors: Arthur J. Keown, John D. Martin, J. William Petty

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Posted Date: Feb 15, 2024 12:50 AM

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Suppose you would like to have a $ 2 4 5 0 0 0 in the future

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Okay lets break this down stepbystep You want 245000 in 9 years T... View the full answer

Foundations of Finance The Logic and Practice of Financial Management

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