Lou Ling, owner of Lous Lube, estimates that he will need $70,000 for new equipment in 7
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Lou Ling, owner of Lou’s Lube, estimates that he will need $70,000 for new equipment in 7 years. Lou decided to put aside money today so it will be available in 7 years. Reel Bank offers Lou 6% interest compounded quarterly. How much must Lou invest to have $70,000 in 7 years?
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Calculation of total amount received at the end of the 5 years Futur...View the full answer
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Muhammad Umair
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Related Book For 
Financial Management for Public Health and Not for Profit Organizations
ISBN: 978-0132805667
4th edition
Authors: Steven A. Finkler, Thad Calabrese
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