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Reynolds must accumulate $112,000 in eight years to purchase replacement equipment. Reynolds plans to invest funds today to have the $112,000 accessible at that
Reynolds must accumulate $112,000 in eight years to purchase replacement equipment. Reynolds plans to invest funds today to have the $112,000 accessible at that time. Round answers to the nearest whole dollar. Do not use negative signs with any of your answers. a. Assuming a 5% return compounded annually on its Investment, how much must Reynolds Invest now to reach the goal? $ b. Assuming a 7% return compounded annually on its Investment, how much must Reynolds Invest now to reach the goal? $ 0
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