If you want to have $10 000 for a down payment on a new car in three years, assuming an interest rate of 4.5 percent compounded annually, how much money do you need to deposit as a lump sum today?
A)$8412
B)$8712
C)$8112
D)$8763

Question

Quizplus · Accepted Answer

The Answer of If you want to have $10 000 for a down payment on a new car in three years, assuming an interest rate of 4.5 percent compounded annually, how much money do you need to deposit as a lump sum today?
A)$8412
B)$8712
C)$8112
D)$8763

If You Want to Have $10 000 for a Down