Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 34P
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- You need $4,000 to buy a new baking oven for your business in 4 years. What value you must have now if the compounded annually return is 12%.
- Your parents placed $240,000 in a trust fund for you. In 15 years, what will be the worth of the savings. If the estimated
rate of return on the trust fund is 10%?
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