How many years will it take Rexchem, Inc., to accumulate $375,000 for a chemical feeder, if the company deposits $50,000 each year, starting one year from now, into an account that earns interest at 9% per year? (Round up your answer to an integer value.) Rexchem, Inc., will take years.

How many years will it take Rexchem, Inc., to accumulate $375,000 for a chemical feeder, if the company deposits $50,000 each year, starting one year from now, into an account that earns interest at 9% per year? (Round up your answer to an integer value.) Rexchem, Inc., will take 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 9.13E

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How many years will it take Rexchem, Inc., to accumulate $375,000 for a chemical feeder, if the company deposits $50,000 each year,
starting one year from now, into an account that earns interest at 9% per year? (Round up your answer to an integer value.)
Rexchem, Inc., will take
years.
pok
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int
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