If you were saving up to buy a boat for $200,000 in ten years and feel confident that your invested savings can earn 10% a year, how much would you need to invest today? 1. $55,555.55 2. $20,000.00 3. $63,258.14 4. $25,500.50 5. $77,108.66

If you were saving up to buy a boat for $200,000 in ten years and feel confident that your invested savings can earn 10% a year, how much would you need to invest today? 1. $55,555.55 2. $20,000.00 3. $63,258.14 4. $25,500.50 5. $77,108.66

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 5MC: If you are saving the same amount each month in order to buy a new sports car when the new models...

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Question

26) If you were saving up to buy a boat for $200,000 in ten years and feel confident that your invested savings can earn 10% a year, how much would you need to invest today?

	1.	$55,555.55
	2.	$20,000.00
	3.	$63,258.14
	4.	$25,500.50
	5.	$77,108.66

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