22. A large-capacity water supply system will be required in 4 years. At that time, the...
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22. A large-capacity water supply system will be required in 4 years. At that time, the system is estimated to cost $40,000. Most nearly, what yearly amount must be placed in a savings account to accumulate the necessary purchase price by the end of 4 years, if the annual interest is 12%? (A) $8,000 (B) $8,370 (C) $9,000 (D) $10,000 22. A large-capacity water supply system will be required in 4 years. At that time, the system is estimated to cost $40,000. Most nearly, what yearly amount must be placed in a savings account to accumulate the necessary purchase price by the end of 4 years, if the annual interest is 12%? (A) $8,000 (B) $8,370 (C) $9,000 (D) $10,000
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Answer B 8370 Explanations The amount that needs to be placed in a savings account today is the pres... View the full answer
Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Posted Date:
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