A company estimates that it must make annual investments of $ 53828 over a 23-year period after 4 years from now. How much would the company have to invest now at an interest rate of 3% per year to sufficiently provide for the annual payments, if the first payment will begin enc of 4th year from now?

A company estimates that it must make annual investments of $ 53828 over a 23-year period after 4 years from now. How much would the company have to invest now at an interest rate of 3% per year to sufficiently provide for the annual payments, if the first payment will begin enc of 4th year from now?

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

Section: Chapter Questions

Problem 1PS

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