22 Jul HOW MUCH SHOULD YOU INVEST TODAY TO REACH YOUR TARGET IN 8 YEARS ?
To compute future value (fv) of a single sum use Table A1 in the appendix and the formula: fv = pv Show more To compute future value (fv) of a single sum use Table A1 in the appendix and the formula: fv = pv * factor. To find the present value (pv) of a known future amount use Table A2 in the appendix and the formula pv = fv * factor. Question 1: You invest $3000 for 8 years and expect to earn 9% on average per year. What is the fv ? Solve using Table A1. Question 2: You want to have $6000 eight years from today to purchase a G. Loomis fishing rod and a Van Staal fishing reel. You expect to earn 9% on average. How much should you invest today to reach your target in 8 years ? Solve using Table A2. Be sure to show the formula and your plug-ins then solve. Show all the steps in your work. Fundamentals of Corporate Finance 10th edition AUTHOR: Ross Westerfield Jordan Show less
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