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Fraser Company will need a new warehouse in eight years. The warehouse will cost $490,000 to build. Use Excel or a financial calculator to solve.

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Fraser Company will need a new warehouse in eight years. The warehouse will cost $490,000 to build. Use Excel or a financial calculator to solve. Round answers to the nearest dollar Required: 1. What lump-sum amount should the company invest now to have the $490,000 available at the end of the eight-year period? Assume that the company can invest money at four percent. Amount to be Invested

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