At the end of each of the next 8 years, you planto put $25,000 of your annual salary in thebank. If the annual interest rate is 3%, what isthe present value of this planned savingsstream? What will the balance in your bankaccount be at the end of the 8 year period?
At the end of each of the next 8 years, you planto put $25,000 of your annual salary in thebank. If the annual interest rate is 3%, what isthe present value of this planned savingsstream? What will the balance in your bankaccount be at the end of the 8 year period?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
Related questions
Question
At the end of each of the next 8 years, you plan
to put $25,000 of your annual salary in the
bank. If the annual interest rate is 3%, what is
the present value of this planned savings
stream? What will the balance in your bank
account be at the end of the 8 year period?
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