You want to purchase a $540,000 machine 4 years in the future.The annual interest rate is 4.5%.You
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Question:
What amount must be invested today at an annual interest rate of 4.5%, compounded monthly, if you want to purchase a $450,000 machine 4 years in the future?
Related Book For
Fundamentals of Financial Management
ISBN: 978-1337395250
15th edition
Authors: Eugene F. Brigham, Joel F. Houston
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