You would like to travel in South America 5 years from now, and you can save $7,400
Fantastic news! We've Found the answer you've been seeking!
Question:
You would like to travel in South America 5 years from now, and you can save $7,400 per year, beginning one year from today. You plan to deposit the funds in a mutual fund that you think will return 8.5% per year. Under these conditions, calculate how much would you have just after you make the 5th deposit, 5 years from now?
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1259024962
6th Canadian edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim
Posted Date: