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How much money you need to invest today

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Reference no: EM133020010

Question - You would like to buy yourself a trailer so that you can enjoy camping this summer. The trailer cost $46,000. You have $37,000 which is not enough for the model you would like to buy. A friend of you, who just passed a financial management course, gave you a great idea to invest today in a financial instrument that pays 8%. How much money you need to invest today so that you can buy a trailer in 3 years.

a. $35,889,45

b. $36,516.28

c. $35,122.33

d. $37,000.00

Reference no: EM133020010

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