How much must you invest today

Assignment Help Financial Management

Reference no: EM131913157

Suppose you are committed to owning a $188229 Ferrari. If you believe your mutual fund can achieve a 11.1 percent annual rate of return and you want to buy the car in 6 years, how much must you invest today?

(Round time value factors to 6 decimal places and final answer to the nearest dollar amount. Omit the "tiny_mce_markerquot; sign and commas in your response. For example, $123,456 should be entered as 123456.)

Reference no: EM131913157

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