You need $73323 in 11 years. If you can earn 0.25 percent per month, how much will
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Question:
You need $73323 in 11 years. If you can earn 0.25 percent per month, how much will you have to deposit today (in $)?"
The correct answer is $52735.36. But I keep getting $52970.10.
My calculations are:
PMT=0
FV= $73323
I/Y= 0.25 x 12= 3
N= 11
I am hoping you can explain to me where my error is.
Related Book For
Personal Finance Turning Money into Wealth
ISBN: 978-0134730363
8th edition
Authors: Arthur J. Keown
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