11) You would like to have $8 500 for future spending in three years from now. How much should you deposit in your bank account now if the account pays you 0.4% interest per month? A) $2 071 -B) $7 362 C) $8 102 D) $8 399 E) $8 429 facility over the next 5 years.

11) You would like to have $8 500 for future spending in three years from now. How much should you deposit in your bank account now if the account pays you 0.4% interest per month? A) $2 071 -B) $7 362 C) $8 102 D) $8 399 E) $8 429 facility over the next 5 years.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

11) You would like to have $8 500 for future spending in three years from now. How much
should you deposit in your bank account now if the account pays you 0.4% interest per month?
A) $2 071
-B) $7 362
C) $8 102
D) $8 399
E) $8 429
Ttole-formine facility over the next 5 years.

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