You want $750,000 to upgrade your store in 8 years. The treasurer wants to make equal payments
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You want $750,000 to upgrade your store in 8 years. The treasurer wants to make equal payments at the end of each year into a fund for the purpose of accumulating this amount. If the fund can earn an effective annual return of 5 percent, how much must the company invest at the end of each year?
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Related Book For
Principles Of Managerial Finance
ISBN: 978-0136119463
13th Edition
Authors: Lawrence J. Gitman, Chad J. Zutter
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