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How much should be invested each year for 10 years to provide you with $8000 per year for the next 15 years? Assume a 5.4% interest rate. (Round your final answer to two decimal places.) $

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 14EB: How much must be invested now to receive $50,000 for 8 years if the first $50,000 is received in one...

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Question

How much should be invested each year
for 10 years to provide you with $8000 per
year for the next 15 years? Assume a 5.4%
interest rate. (Round your final answer to
two decimal places.)
$

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