Question
A company must invest now to pay for a renewable energy technology required by regulations in five years. If the technology will cost $15,000 in
A company must invest now to pay for a renewable energy technology required by regulations in five years. If the technology will cost $15,000 in five years, and the interest rate is 5%, how much in dollars does the company need to invest today to have enough money to purchase the technology?
A. 15,000
B. 14,285.7
C. 11,752.9
D. None of the above
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Managerial Economics A Problem Solving Approach
Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
4th edition
1305259335, 978-1305259331
