plastic manufacturing company was intending to expand its production facilities starting 1989. The program requires the following estimated expenditures. 1,000,000 at the end of 1983 1,200,000 at the end of 1990 1,500,000 at the end of 1993 To accumulate the required funds, it established a sinking fund consisting of fifteen uniform annual deposits, the first deposit having been made at the end of 1979. If the interest of the fund was 12% per annum, calculate the annual deposit.

plastic manufacturing company was intending to expand its production facilities starting 1989. The program requires the following estimated expenditures. 1,000,000 at the end of 1983 1,200,000 at the end of 1990 1,500,000 at the end of 1993 To accumulate the required funds, it established a sinking fund consisting of fifteen uniform annual deposits, the first deposit having been made at the end of 1979. If the interest of the fund was 12% per annum, calculate the annual deposit.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 34P

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