Answered: A company wishes to make 5 equal annual…

A company wishes to make 5 equal annual investments so that on the date of the last investment, it will have $50,000 to buy a new machine. What amount must ?be invested each year at an interest of 4%

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 16P

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A company wishes to make 5 equal annual investments so that on the date of the
last investment, it will have $50,000 to buy a new machine. What amount must
?be invested each year at an interest of 4%

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