Express your hypothetical age in years and months only (Forget about the day, for example, if you
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- Express your hypothetical age in years and months only (Forget about the day, for example, if you are 22 years and 5 months and 15 days, then use 22 years and 5 months. If you are 22 years and 6 months and 16 days, then use 23 years and 7 months.) Assume an age that has a month in it, saying I am 21 years is not acceptable, one could say 21 years and one month 2 months or 3 months, or 21 years and 11 months that have not been chosen by any other students. Assume you buy a zero-coupon bond that matures when you get to the retirement age of 67. If your goal is to have $1,000,000.00 when you retire at age 67 and if the yield of this bond is 6.25% compounded semiannually, how much you must invest today to achieve your goal? The face value of each zero-coupon bond is $10,000.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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