You are planning a $50,000 capital investment in your rental property in 7 years' time. If...

 

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You are planning a $50,000 capital investment in your rental property in 7 years' time. If you decide to invest a fixed amount at the beginning of each period [m = 12] at a nominal rate of 6.15% to accumulate this sum, how much principal would you deposit over the next 7 years? Enter your answer rounded to two decimal places without the $ sign (e.g. 2300.56) You are planning a $50,000 capital investment in your rental property in 7 years' time. If you decide to invest a fixed amount at the beginning of each period [m = 12] at a nominal rate of 6.15% to accumulate this sum, how much principal would you deposit over the next 7 years? Enter your answer rounded to two decimal places without the $ sign (e.g. 2300.56)

Answer rating: 100% (QA)

Future Value can be computed as P 1 rn 1 r Where Future Value of 50000 P is Mon... View the full answer