a person wants to have $3000 available to spent on un overseas trip 4 years from...
a person wants to have $3000 available to spent on un overseas trip 4 years from now. if such funds could be expected to earn 7% how much should be invested in a lump sum to realize the $ 3000 when needed?
Homework Answers
| Amount required at the end of Year-4 | 3000 | ||||
| PVF at 7% for Year -4 | 0.762895 | ||||
| Present value of Amount required at end of Yr-4 | 2288.685 | ||||
| Amount required to be deposited today is $ 2288.69 | |||||
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a person wants to have $3000 available to spent on un overseas
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Please show the work.
Thank you for your assistance!
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Please show the work.
Thank you for your assistance!
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