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Question 33 (1 point) How much should be invested by Mellark Inc. on January 1, 2020 in order to receive $65,000 from January 1st,
Question 33 (1 point) How much should be invested by Mellark Inc. on January 1, 2020 in order to receive $65,000 from January 1st, 2020 through January 1st, 2025? The first $65,000 is received on January 1st 2020. Mellark's investment earns 9% interest. The following factors are provided: Description Number of Periods Factor Present Value of an Annuity Due of 1 at 9% Present Value of an Ordinary Annuity of 1 at 9% Present Value of an Annuity Due of 1 at 9% Present Value of an Ordinary Annuity of 1 at 9% 5 4.23972 5 3.88965 6 4.88965 6 4.48592 $275,581.80 $317,827.25 $252,827.25 $291,584.80
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