Helen thinks she will need to replace the fence around her business in 6 years at an estimate of $5000 . If she can get 6% annual interest compounded quarterly what amount does she need to deposit now in order to have the point she needs in 6 years?
Helen thinks she will need to replace the fence around her business in 6 years at an estimate of $5000 . If she can get 6% annual interest compounded quarterly what amount does she need to deposit now in order to have the point she needs in 6 years?
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.18E
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Helen thinks she will need to replace the fence around her business in 6 years at an estimate of $5000 . If she can get 6% annual interest compounded quarterly what amount does she need to deposit now in order to have the point she needs in 6 years?
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