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Do Cash Flow Diagrams for each one A patriotic group of firefighters is raising money to erect a permanent (G.e, infinite life) monument in New
Do Cash Flow Diagrams for each one
A patriotic group of firefighters is raising money to erect a permanent (G.e, infinite life) monument in New York City to honor those killed in the line of duty. The initial cost of the monument will be $150,000, and the annual maintenance will cost $5000. There will be an additional one-time cost of $20,000 in 2 years to add names of those who were missed initially. At an interest rate of 6% per year, how much money must they raise now in order to construct and maintain the monument foreverStep by Step Solution
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