You deposit $90,000 in your account today earning 4.20% per year. You plan to give your...
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You deposit $90,000 in your account today earning 4.20% per year. You plan to give your niece $25,000 when she graduates 3 years from today and $30,000 to your nephew at the end of 5th year. What rate of return must you earn on your balance in order for you to have $150,000 at the end of 12th year? You deposit $90,000 in your account today earning 4.20% per year. You plan to give your niece $25,000 when she graduates 3 years from today and $30,000 to your nephew at the end of 5th year. What rate of return must you earn on your balance in order for you to have $150,000 at the end of 12th year?
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FV PV 1 rn where FV is the future value PV is the present value r is the rate of return and n is the ... View the full answer
Related Book For
Systems analysis and design
ISBN: 978-0136089162
8th Edition
Authors: kenneth e. kendall, julie e. kendall
Posted Date:
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