Question
A constructor wants to set aside enough money today in an interest-bearing account to have $200,000 three years from now for the purchase of a
A constructor wants to set aside enough money today in an interest-bearing account to have $200,000 three years from now for the purchase of a replacement piece of equipment. If the company can receive 5% per year on its investment, how much should be set aside now to accrue the $200,000 three years from now?
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Financial Accounting And Reporting
Authors: Barry Elliott, Jamie Elliott
3rd Edition
0139488944, 978-0139488948
