A small company wishes to setup a fund that can be used for technology purchases over thenext6years.
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A small company wishes to setup a fund that can be used for technology purchases over thenext6years. Their forecast is for \($12\),000 to be needed at the end of year 1, decreasing by \($2\),000 each year there after. The fund earns8 percent per year. How much money must be deposited to the fund at the end of year 0 to just deplete the fund after the last withdrawal?
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To determine how much money must be deposited into the fund at the end of year 0 to just deplete the fund after the last withdrawal we need to calcula...View the full answer
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Related Book For 
Principles Of Engineering Economic Analysis
ISBN: 9781118163832
6th Edition
Authors: John A. White, Kenneth E. Case, David B. Pratt
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