Question: Belleview Hospital expanded their surgical unit to include more operating rooms. They negotiated a 20-year loan with monthly payments and a large sum of $550,000

Belleview Hospital expanded their surgical unit to include more operating rooms. They negotiated a 20-year loan with monthly payments and a large sum of $550,000 due at the end of the loan. How much will Belleview Hospital have to invest today to meet the large sum payment of 550,000 in 8 years, assuming cash could be invested at 6% interest? Period 1% 2% 4% 6% 5 0.951 0.906 0.822 0.747 6 0.942 0.888 0.790 0.705 7 0.933 0.871 0.760 0.665 8 0.923 0.853 0.731 0.627 9 0.914 0.837 0.703 0.592 10 0.905 0.820 0.676 0.558 a. $344,850 b. $387,750 c. $410,850 d. $452,100

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