Sunday, December 4, 2011

Time Value of Money- Personal Finance 5?

Here you are looking for the present value. You know the future value. Juan wants to give his grandchild $10,000 in 18 years. He can earn 7% per year and wants to know how much he much deposit today in a single lump sum for it to grow to the $10,000. Assume annual compounding.|||The formulas should be inside the back cover of your book. They're not hard.

No comments:

Post a Comment