In order to have cash available for unforeseen emergencies, Baring Systems, a military contractor, wants to have

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In order to have cash available for unforeseen emergencies, Baring Systems, a military contractor, wants to have $2,000,000 in a contingency fund 4 years from now. The amount the company must deposit each year in years 0 through 4 at an interest rate of 10% per year is closest to:
(a) $420,100
(b) $327,600
(c) $284,600
(d) $206,900

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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