Question
Your firm wants to save $250,000 to buy some new equipment three years from now. The plan is to set aside an equal amount of
Your firm wants to save $250,000 to buy some new equipment three years from now. The plan is
to set aside an equal amount of money on the first day of each year starting today. The firm can
earn a 4.7% rate of return. How much does the firm have to save each year to achieve its goal?
A. $75,966.14
B. $76,896.16
C. $78,004.67
D. $81.414.14
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Entrepreneurial Finance
Authors: Chris LeachJ LeachRonald Melicher
3rd Edition
0324561253, 9780324561258
