4.You expect to need $22,500 in 4 years to finance the wedding of your daughter. How much should you deposit now at 7% CIS to accumulate that amount? I A $16,200 B. $17,165 C. $18,181 D. $16,831 E. $17.087

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
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Subject :- Accounting 

14.You expect to need $22,500 in 4 years to finance the wedding of your daughter. How much should you deposit
now at 7% CIS to accumulate that amount?
I
A $16,200
B. $17,165
C. $18,181
D. $16,831
E. $17,087
Transcribed Image Text:14.You expect to need $22,500 in 4 years to finance the wedding of your daughter. How much should you deposit now at 7% CIS to accumulate that amount? I A $16,200 B. $17,165 C. $18,181 D. $16,831 E. $17,087
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