4. A manufacturer of flashlights wants to have $750,000 available 8 years from now so that a new product line can be initiated. If the company plans to deposit money each year, starting 1 year from now, how much will it have to deposit each year at 8% per year interest in order to have the $750,000 available immediately after the last deposit is made? Solve using the interest factors in the

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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4. A manufacturer of flashlights wants to have
$750,000 available 8 years from now so that a
new product line can be initiated. If the
company plans to deposit money each year,
starting 1 year from now, how much will it
have to deposit each year at 8% per year
interest in order to have the $750,000
available immediately after the last deposit is
made? Solve using the interest factors in the
Transcribed Image Text:4. A manufacturer of flashlights wants to have $750,000 available 8 years from now so that a new product line can be initiated. If the company plans to deposit money each year, starting 1 year from now, how much will it have to deposit each year at 8% per year interest in order to have the $750,000 available immediately after the last deposit is made? Solve using the interest factors in the
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