Question: Present Value and Future Value Brian Inc. estimates that it will need $150,000 in ten years to expand its manufacturing facilities. A bank has agreed

Present Value and Future Value

Brian Inc. estimates that it will need $150,000 in ten years to expand its manufacturing facilities. A bank has agreed to pay Brian 5% interest compounded annually if the company deposits the entire amount now needed to accumulate $150,000 in ten years.

Use the appropriate present or future value table:

FV of $1,PV of $1,FV of Annuity of $1andPV of Annuity of $1

How much money does Brian need to deposit? Be sure to use all digits shown on the table and round your answer to a whole dollar.

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