Suppose you want to have $7,876 for a vacation in the future. What will be the estimated total you will need if you add in 3% each year for 4 years for inflation? how much will you need to deposit monthly in order to save up the total cost of the vacation (inflation included into that), if you find a bank that offers 1.25% interest rate compounded monthly and you want to have the total in 4 years. How much interest is earned from that?
Suppose you want to have $7,876 for a vacation in the future. What will be the estimated total you will need if you add in 3% each year for 4 years for inflation? how much will you need to deposit monthly in order to save up the total cost of the vacation (inflation included into that), if you find a bank that offers 1.25% interest rate compounded monthly and you want to have the total in 4 years. How much interest is earned from that?
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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Suppose you want to have $7,876 for a vacation in the future. What will be the estimated total you will need if you add in 3% each year for 4 years for inflation? how much will you need to deposit monthly in order to save up the total cost of the vacation (inflation included into that), if you find a bank that offers 1.25% interest rate compounded monthly and you want to have the total in 4 years. How much interest is earned from that?
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