Jessica needs $3,000/year for the next four years of expenses. She knows she will want to have
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Jessica needs $3,000/year for the next four years of expenses. She knows she will want to have some cash for relocating after and thinks $5,000 will be sufficient (this occurs in year 4). Her Grandma will be glad to give her the money now if she can determine how much is needed today to meet that cashflow. The rate is 5%? Draw a Timeline. Determine the type of TVM problem(s) and show your work step by step.
Related Book For
Financial Management for Public Health and Not for Profit Organizations
ISBN: 978-0132805667
4th edition
Authors: Steven A. Finkler, Thad Calabrese
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