wo years ago, Lou Marshall, Inc. deposited $18,125 in an investment account for the purpose of buying new equipment four years from today. Last year, it added another $20,212 to this account. The company plans on making a final deposit of $17,503 to the account today. How much will be available when it is ready to buy the equipment, assuming the company earns 13.27% APR on its invested funds? Choose the closest amount.   $118,681.22   $92,502.23   $91,918.47   $104,777.28   $72,097.87

Principles of Accounting Volume 2
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ISBN:9781947172609
Author:OpenStax
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Chapter11: Capital Budgeting Decisions
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Problem 10PA: The Ham and Egg Restaurant is considering an investment in a new oven that has a cost of $60,000,...
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Two years ago, Lou Marshall, Inc. deposited $18,125 in an investment account for the purpose of buying new equipment four years from today. Last year, it added another $20,212 to this account. The company plans on making a final deposit of $17,503 to the account today. How much will be available when it is ready to buy the equipment, assuming the company earns 13.27% APR on its invested funds? Choose the closest amount.

 

$118,681.22

 

$92,502.23

 

$91,918.47

 

$104,777.28

 

$72,097.87

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