Pharoah Enterprises earns 8% on an investment that pays back $82,500 at the end of each of the next 6 years. Click here to view the factor table. What is the amount Pharoah Enterprises invested to earn the 8% rate of return? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Pharoah Enterprises invested $

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Vikarmbhai 

Pharoah Enterprises earns 8% on an investment that pays back $82,500 at the end of each of the next 6 years.
Click here to view the factor table.
What is the amount Pharoah Enterprises invested to earn the 8% rate of return? (For calculation purposes, use 5 decimal places as
displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.)
Pharoah Enterprises invested $
Transcribed Image Text:Pharoah Enterprises earns 8% on an investment that pays back $82,500 at the end of each of the next 6 years. Click here to view the factor table. What is the amount Pharoah Enterprises invested to earn the 8% rate of return? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Pharoah Enterprises invested $
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