A father is trying to save for his daughter's wedding in two years. (Long engagement!). He...
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A father is trying to save for his daughter's wedding in two years. (Long engagement!). He thinks he can make the following contributions to an account: $14,935.00 today and $14,245.00 in one year. The father thinks he can earn 8.00% in the market each of the next two years. If the wedding is expected to cost $52,965.00 two years from today, how much will he need to contribute at the time of the wedding to cover its cost? A father is trying to save for his daughter's wedding in two years. (Long engagement!). He thinks he can make the following contributions to an account: $14,935.00 today and $14,245.00 in one year. The father thinks he can earn 8.00% in the market each of the next two years. If the wedding is expected to cost $52,965.00 two years from today, how much will he need to contribute at the time of the wedding to cover its cost?
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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