Today you have decided to elaborate a plan for your personal finances. You expect to have an expense of 31,112 dollars o

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answerhappygod
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Today you have decided to elaborate a plan for your personal finances. You expect to have an expense of 31,112 dollars o

Post by answerhappygod »

Today you have decided to elaborate a plan for your personal
finances. You expect to have an expense of 31,112 dollars one year
from now, a receivable of 19,231 dollars two years from now, and an
expense of 18,049 dollars three years from now. How much money do
you need to deposit today in order to honor these future financial
obligations if your savings account yields 7 % per year? Only a
single deposit today is allowed; no other options are
available.
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