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Module 08 Homework: Problem 21 (1 point) Future Value of an Annuity Richard S Flores McDonald's major distribution partner, The Martin-Brower Company, needs at
Module 08 Homework: Problem 21 (1 point) Future Value of an Annuity Richard S Flores McDonald's major distribution partner, The Martin-Brower Company, needs at least $1 million to build a new warehouse in Medicine Hat 2 years from today. To date, it has invested $470,000.00. If it continues to invest $51,000.00 at the end of every quarter into a fund earning 7% quarterly, will it have enough money to build the warehouse 2 years from now? How much money will it have? The Martin-Brower Company's $470,000.00 will have grown to will have grown to for a total of Thus, it ? now. and its $51,000.00 deposits have enough money 2 years from Note: You can earn partial credit on this problem.
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