Lisa invests an amount B on January 1, 2009, to open her stock portfolio. The portfolio earns a return of 5% per quarter. Lisa also will invest an amount B on April 1st and July 1st and an amount 2B on October 1st. Lisa's portfolio will be worth $20,000 on January 1, 2010. Determine B.

Lisa invests an amount B on January 1, 2009, to open her stock portfolio. The portfolio earns a return of 5% per quarter. Lisa also will invest an amount B on April 1st and July 1st and an amount 2B on October 1st. Lisa's portfolio will be worth $20,000 on January 1, 2010. Determine B.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section: Chapter Questions

Problem 2P

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Lisa invests an amount B on January 1, 2009, to open her stock portfolio. The portfolio earns a return of 5% per quarter.

Lisa also will invest an amount B on April 1st and July 1st and an amount 2B on October 1st. Lisa's portfolio will be worth $20,000 on January 1, 2010.

Determine B.

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