Mike Gordon wishes to have $80,000 in five years. If he can earn annual interest of 2%, how much must he invest today? $42,170< $72,480 $76,080 $88,320
Mike Gordon wishes to have $80,000 in five years. If he can earn annual interest of 2%, how much must he invest today? $42,170< $72,480 $76,080 $88,320
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 18PROB
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Mike Gordon wishes to have $80,000 in five years. If he can earn annual interest of 2%, how much must he invest today?
- $42,170<
- $72,480
- $76,080
- $88,320
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