Question
Your company wants to save $265,000 to buy new equipment 72 months from now. The plan is to set aside an equal amount of money
Your company wants to save $265,000 to buy new equipment 72 months from now. The plan is to set aside an equal amount of money on the first day of each quarter starting today. The company can earn 8.75% annually. How much does the company have to save each quarter to achieve the goal?
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Cases in Financial Reporting
Authors: Michael J. Sandretto
1st edition
538476796, 978-0538476799
