lustin has already saved $11,300 in his investment account today and he plans to continue to add on equal deposits at the end of every six months for the next 9 years. What semi-annual payment is required to accumulate $51,000 in total at the end of the 9 years if the nominal rate of return on the investment is 6.01% compounded monthly? Enter the future value as a positive value in the FV box below.
lustin has already saved $11,300 in his investment account today and he plans to continue to add on equal deposits at the end of every six months for the next 9 years. What semi-annual payment is required to accumulate $51,000 in total at the end of the 9 years if the nominal rate of return on the investment is 6.01% compounded monthly? Enter the future value as a positive value in the FV box below.
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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