Suppose you plan to have $70,000 in 25 years from now and you can invest your savings at 6% compounded continuously. Assuming you can save the same amount of money each year, how much do you need to save on a yearly basis in order to achieve your goal? Hint: Treat your savings as an income stream. Yearly savings (exact value) =________ dol Yearly savings (rounded to the nearest cent) = _____dollars
Suppose you plan to have $70,000 in 25 years from now and you can invest your savings at 6% compounded continuously. Assuming you can save the same amount of money each year, how much do you need to save on a yearly basis in order to achieve your goal? Hint: Treat your savings as an income stream. Yearly savings (exact value) =________ dol Yearly savings (rounded to the nearest cent) = _____dollars
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 13EB: Conestoga Plumbing plans to invest in a new pump that is anticipated to provide annual savings for...
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Suppose you plan to have $70,000 in 25 years from now and you can invest your savings at 6% compounded continuously. Assuming you can save the same amount of money each year, how much do you need to save on a yearly basis in order to achieve your goal? Hint: Treat your savings as an income stream.
Yearly savings (exact value) =________ dol
Yearly savings (rounded to the nearest cent) = _____dollars
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