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Use Worksheet 111 Ashley Corwin is a young career woman whos now employed as the managing editor of a well known business journal Although she thoroughly enjoys her job and the people she works

Use Worksheet 11.1 Ashley Corwin is a young career woman who’s now employed as the managing editor of a well-known business journal. Although she thoroughly enjoys her job and the people she works with, what she would really like to do is open a bookstore of her own. She would like to open her store in about 8 years and figures she’ll need about $50,000 in capital to do so. Given that she thinks she can make about 10% on her money, use Worksheet 11.1 to answer the following questions.

 

a. How much would Ashley have to invest today, in one lump sum, to end up with $50,000 in 8 years

b. If she’s starting from scratch, how much would she have to put away annually to accumulate the needed capital in 8 years?

c. How about if she already has $10,000 socked away; how much would she have to put away annually to accumulate the required capital in 8 years?

d. Given that Ashley has an idea of how much she needs to save, briefly explain how she could use an investment plan to help reach her objective.

May 16 2020 View more View Less

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