Lilac Pharmacy will need $2.5 million 6 years from now to replace some equipment. Currently, the firm
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Lilac Pharmacy will need $2.5 million 6 years from now to replace some equipment. Currently, the firm has some extra cash and would like to establish a savings account for this purpose. The account pays 6.4 percent interest, compounded semi-annually. How much money must the company deposit today to fully fund the equipment purchase? [Hint: Find PV]
Related Book For
Fundamentals of Financial Management
ISBN: 978-0324664553
Concise 6th Edition
Authors: Eugene F. Brigham, Joel F. Houston
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