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Carman Dog Care Co. wants to finance a new animal shelter by making four annual deposits into a fund earning 11% compounded annually. The first
Carman Dog Care Co. wants to finance a new animal shelter by making four annual deposits into a fund earning 11% compounded annually. The first two deposits are to be $18,000 each and will be paid at the beginning of the next two years. The last two deposits are to be $34,000 each and will be paid at the beginning of the last two years. Requirement What is the cost of the new animal shelter? (Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculations. Use the same method for all calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round intermediary currency computations and The cost of the new animal shelter amounts to $
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