Question
A company plans to purchase a new truck ten years from now. The cost of the truck is expected to be $200,000 in year
A company plans to purchase a new truck ten years from now. The cost of the truck is expected to be $200,000 in year 11, and the company uses an interest rate of 10% per year. (a) If the company makes the first payment three years from now, how much must each payment be in order to have the money at the end of year ten? (b) If the company makes the first deposit one year from now, how much should each deposit be?
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Construction accounting and financial management
Authors: Steven j. Peterson
2nd Edition
135017114, 978-0135017111
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