John aims to withdraw $400 now, $300 three years later, and $600 five years later from...
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John aims to withdraw $400 now, $300 three years later, and $600 five years later from his bank account. How much was deposited in his bank account five years ago, according to the 12% yearly interest rate. John aims to withdraw $400 now, $300 three years later, and $600 five years later from his bank account. How much was deposited in his bank account five years ago, according to the 12% yearly interest rate.
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We can use the future value formula to solve this problem FV PV x 1 rn where FV future value PV ... View the full answer
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780135811603
5th Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
Posted Date:
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