A small company wishes to set up a fund that can be used for technology purchases over

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A small company wishes to set up a fund that can be used for technology purchases over the next 6 years. Their forecast is for $9,000 to be needed at the end of year 1, increasing by 5 percent each year thereafter. The fund earns 10 percent per year. How much money must be deposited to the fund at the end of year 0 to just deplete the fund after the last withdrawal?

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Related Book For  answer-question

Principles Of Engineering Economic Analysis

ISBN: 9781118163832

6th Edition

Authors: John A. White, Kenneth E. Case, David B. Pratt

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