Question
Kaehler Enterprises earns 7% on an investment that pays back $88,000 at the end of each of the next 9 years. (For calculation purposes, use
Kaehler Enterprises earns 7% on an investment that pays back $88,000 at the end of each of the next 9 years. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Kaehler Enterprises invested to earn the 7% rate of return? (Round answer to 2 decimal places, e.g. 25.25.)
| Kaehler Enterprises invested |
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Practical financial management
Authors: William r. Lasher
5th Edition
0324422636, 978-0324422634
