Sofia wants to acquire an apartment that within 4 years will have a value of $310,000,000, for this a monthly savings plan has been proposed to have within 4 years 35% of the value of the apartment that constitutes the initial fee. If the bank where you deposit the money recognizes an interest rate of 16% NM for the first two years and 20% NM for the last two years, how much should Sofia save monthly? Select one: a. $1.229.305,54 b. $1.729.305,54 c. $1.529.305,54

Sofia wants to acquire an apartment that within 4 years will have a value of $310,000,000, for this a monthly savings plan has been proposed to have within 4 years 35% of the value of the apartment that constitutes the initial fee. If the bank where you deposit the money recognizes an interest rate of 16% NM for the first two years and 20% NM for the last two years, how much should Sofia save monthly? Select one: a. $1.229.305,54 b. $1.729.305,54 c. $1.529.305,54

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter16: Interest, Rent, And Profit

Section: Chapter Questions

Problem 1WNG

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