Suppose that Morduch believes that her company "Meals" can put aside only $37,500 today to buy the new van in 3 years. However, she thinks that she can invest the money at 7.20 percent compounded monthly. Determine if she will have the $50,000, she will need for the new van - if no/yes how much?

Answer rating: 100% (QA)

To determine if Morduch will have the 50000 she needs for the new van we can use the ... View the full answer