Business, 07.05.2021 18:10 ajwiebel3475

Skyline Industries will need $1.8 million 5 years from now to replace some equipment. Currently, the firm has some extra cash and would like to establish a savings account for this purpose. The account pays 5.25% interest compounded annually. How much money must the company deposit today to fully fund the equipment purchase (no additional payments will be put into the account during the 5-year period)

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Skyline Industries will need $1.8 million 5 years from now to replace some equipment. Currently, the...

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