Your business has a mortgage with a balloon payment coming up in 5 years. The amount of
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Your business has a mortgage with a balloon payment coming up in 5 years. The amount of the balloon payment is $100,000. If you could set aside a lumpsum of money today, what would be the amount with a guaranteed 5% interest rate (compounding monthly) in order to have it grow to $100,000 by the end of 5 years?
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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