Business, 20.04.2021 20:10 kobiemajak

Innovative Technologies, a growing machine shop, wishes to set aside money now to invest over the next four years in automating its customer service department. The company can earn 10% on a lump sum deposited now, and it wishes to withdraw the money in the following increments: - Year 1: $25,000 to purchase a computer and database software designed for customer service use; - Year 2: $3,000 to purchase additional hardware to accommodate anticipated growth in the use of the system - Year 3: No expenses - Year 4: $5,000 to purchase software upgrades How much money must be deposited now in order to cover the anticipated payments over the next four years

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Innovative Technologies, a growing machine shop, wishes to set aside money now to invest over the ne...

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