Compute the amount Amanda must deposit in an account today so that she can pay herself $450
Question:
Compute the amount Amanda must deposit in an account today so that she can pay herself $450 per month for the next nine years if her opportunity cost rate is 8.4 percent compounded monthly. How much must Amanda deposit today if she wants to pay herself at the beginning of each month?
Opportunity CostOpportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...
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a Using a financial calculator enter N 9 x 12 108 IY 8412 07 PM...View the full answer
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