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Fenland Co plans to retire $180 million in bonds in five years, so it wishes to fund a savings account at the beginning of each
Fenland Co plans to retire $180 million in bonds in five years, so it wishes to fund a savings account at the beginning of each year during that period for which it expects to earn 12% annually. At the end of the five years, there will be enough money in the account to pay off the bonds. What amount does Fenland need to invest each year? (FV LSI. P of SIEVA of $1. PVA O $1. EVAD of S1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) os Multiple Choice $26,560,527 $25 297954 Cannot be determined from the given information $32.705.277
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