Question
Your company wants to set aside a fixed amount every year to a sinking fund to replace a piece of industrial equipment costing $375,000 at
Your company wants to set aside a fixed amount every year to a sinking fund to replace a piece of industrial equipment costing $375,000 at the end of eight years from now. The sinking fund is expected to earn 7% interest. How much must your company deposit each year to meet this goal?
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Real Estate Principles A Value Approach
Authors: David C Ling, Wayne Archer
5th edition
77836367, 978-0077836368
