Haulton Dog Care Co wants to finance a new animal shelter by making ten annual deposits into a fund earning 9% compounded annually. The first five deposits are to be 517.000 each and will be paid at the beginning of the next five years The last five deposits are to be 529,000 each and will be paid at the beginning of the last five years.

Requirement

What is the cost of the new animal shelter? (Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculations Use the same method for all calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places. XXXXXX Round intermediary currency computations and your final answer to the nearest cent. $.............
The cost of the new animal shelter amounts to $.............

Answer rating: 100% (QA)

Deposit during first five years 17000 Deposit during last fi... View the full answer