Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) You wish to have $12,250 in 11 years. Find how much you should invest now at 6% interest, compounded quarterly in order to have $12,250, 11 years from now. $4,456.73 $5,887.47 $6,362.53 $18,560.59
Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) You wish to have $12,250 in 11 years. Find how much you should invest now at 6% interest, compounded quarterly in order to have $12,250, 11 years from now. $4,456.73 $5,887.47 $6,362.53 $18,560.59
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent)
You wish to have $12,250 in 11 years. Find how much you should invest now at 6% interest, compounded quarterly in order to have $12,250, 11 years from now.
$4,456.73
$5,887.47
$6,362.53
$18,560.59
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