Question
A Tourism Project is being developed for which a trust was established 4 years ago. Today the strong payment of the initial investment was made
A Tourism Project is being developed for which a trust was established 4 years ago. Today the strong payment of the initial investment was made in the amount of $ 1,350,000. It was estimated that maintenance costs will be $ 80,000 per year for the next 6 years; from the seventh year it will be $ 95,000 up to the sixteenth. It is thought that later, indefinitely, the complex will require improvements at the end of each year for $ 110,000. What amount was necessary to deposit in the trust, in order to be able to face all these obligations, if the bank set an interest rate of 8% for the first ten years and thereafter 10%?
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