Carla Vista Co. earns 7% on an investment that pays back $83,000 at the end of each of the next 6 years. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Carla Vista Co. invested to earn the 7% rate of return? (Round answer to 2 decimal places, e.g. 5,275.25.) Carla Vista Co. invested $

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Carla Vista Co. earns 7% on an investment that pays back $83,000 at the end of each of the next 6 years.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)
What is the amount Carla Vista Co. invested to earn the 7% rate of return? (Round answer to 2 decimal places, e.g. 5,275.25.)
Carla Vista Co. invested $
Transcribed Image Text:Carla Vista Co. earns 7% on an investment that pays back $83,000 at the end of each of the next 6 years. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Carla Vista Co. invested to earn the 7% rate of return? (Round answer to 2 decimal places, e.g. 5,275.25.) Carla Vista Co. invested $
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