uppose you want to begin a college fund for your newborn child. You hope to accumulate $45,000 by 20 years from now. If a current investment opportunity yields 6%, how much must you invest in a LUMP SUM today to have the $45,000 when needed in 20 years? $14,900 $13,200 $136,200 $14,000 $144,30
uppose you want to begin a college fund for your newborn child. You hope to accumulate $45,000 by 20 years from now. If a current investment opportunity yields 6%, how much must you invest in a LUMP SUM today to have the $45,000 when needed in 20 years? $14,900 $13,200 $136,200 $14,000 $144,30
Chapter13: Investment Fundamentals
Section: Chapter Questions
Problem 1DTM
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Suppose you want to begin a college fund for your newborn child. You hope to accumulate $45,000 by 20 years from now. If a current investment opportunity yields 6%, how much must you invest in a LUMP SUM today to have the $45,000 when needed in 20 years?
$14,900
$13,200
$136,200
$14,000
$144,300
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