Answered: Suppose you need to hand $52,569 in an…

Suppose you need to hand $52,569 in an account 25 years from today and that account pays 6%. How much do you have to deposit into the account 1 years from today ?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 25P

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Suppose you need to hand $52,569 in an account 25 years from today and that account pays 6%. How much do you have to deposit into the account 1 years from today ?

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