You owe your friend each of the following cash flows: $9,000 1 year from today; $7,000 3

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You owe your friend each of the following cash flows:

$9,000 1 year from today;

$7,000 3 years from today;

$2,000 8 years from today.

How much do you need to deposit today into an account that pays an annual interest rate of 5.9% to ensure you can meet each of these obligations? Round your answer to the nearest penny.

Related Book For answer-question

Horngrens Cost Accounting A Managerial Emphasis

ISBN: 9780135628478

17th Edition

Authors: Srikant M. Datar, Madhav V. Rajan

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Posted Date: Sep 08, 2023 04:03 AM

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You owe your friend each of the following cash flows: $9,000 1 year from today; $7,000 3

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Horngrens Cost Accounting A Managerial Emphasis

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