Find the amount that should be set aside today to yield the desired future amount. Future amount needed = $8,000 Interest rate = 16% Compounding period = quarterly Investment time = 44 years

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 11EB: How much would you invest today in order to receive $30,000 in each of the following (for further...
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Find the amount that should be set aside today
to yield the desired future amount.
Future amount needed = $8,000
%3D
Interest rate = 16%
%3D
Compounding period = quarterly
%3D
Investment time = 44 years
Transcribed Image Text:Find the amount that should be set aside today to yield the desired future amount. Future amount needed = $8,000 %3D Interest rate = 16% %3D Compounding period = quarterly %3D Investment time = 44 years
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