Sebastopol Movie Theater will need $170,000 in 4 years to replace the seats. What deposit should be made today in an account that pays 0.6% compounded semiannually? (a) State the type. sinking fundordinary annuity present valueamortizationpresent value of an annuity (b) Answer the question. (Round your answer to the nearest cent.)
Sebastopol Movie Theater will need $170,000 in 4 years to replace the seats. What deposit should be made today in an account that pays 0.6% compounded semiannually? (a) State the type. sinking fundordinary annuity present valueamortizationpresent value of an annuity (b) Answer the question. (Round your answer to the nearest cent.)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 34P
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Sebastopol Movie Theater will need $170,000 in 4 years to replace the seats. What deposit should be made today in an account that pays 0.6% compounded semiannually?
(a) State the type.
(b) Answer the question. (Round your answer to the nearest cent.)
sinking fundordinary annuity present valueamortizationpresent value of an annuity
(b) Answer the question. (Round your answer to the nearest cent.)
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