Use the formula for the present value of money to calculate the amount you need to invest
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Question:
Use the formula for the present value of money to calculate the amount you need to invest now in one lump sum in order to have $100,000 after 18 years with an APR of 9% compounded quarterly. Round your answer to the nearest cent, if necessary.
Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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