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A student wants to have $30,000 at graduation 4 years from now to buy a new car. His grandfather gave

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A student wants to have $30,000 at graduation 4 years from now to buy a new car. His grandfather gave him $10,000 as a high school graduation present. How much must the student speech year if he deposits the $10,000 today and can earn 12% on both the $10,000 and his earnings in a mutual fund his grandfather recommends?

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P 10 000 i 12 F 30 …View the full answer


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Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional. Since 2012 I am providing home tutions.
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Engineering Economics

Engineering Economics

ISBN: 9780195168075

9th Edition

Authors: Ted G. Feller

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Question Posted: March 01, 2010 03:53:25
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