Pecan Street Company has decided to establish a fund that will be used seven years hence to

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Pecan Street Company has decided to establish a fund that will be used seven years hence to replace an aging productive facility. The company makes an initial contribution of \(\$ 120,000\) to the fund and plans to make quarterly contributions of \(\$ 30,000\) beginning in three months. The fund is expected to earn \(12 \%\), compounded quarterly. What will be the value of the fund seven years hence?

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Financial Accounting

ISBN: 9780256091939

5th Edition

Authors: Kermit D. Larson, Paul B. W. Miller

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