Your company is eyeballing a new project in which they believe will cost $40,000 to start. They would like to spend this money and start the project 5 years from now. If they are able to invest money and recieve a 5% annual return, how much would they initially need to invest in order to start this project in 5 years? $31,340 $173,180 $9240 $51,052
Your company is eyeballing a new project in which they believe will cost $40,000 to start. They would like to spend this money and start the project 5 years from now. If they are able to invest money and recieve a 5% annual return, how much would they initially need to invest in order to start this project in 5 years? $31,340 $173,180 $9240 $51,052
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Your company is eyeballing a new project in which they believe will cost $40,000 to start. They would like to spend this money and start the project 5 years from now. If they are able to invest money and recieve a 5% annual return, how much would they initially need to invest in order to start this project in 5 years?
$31,340
$173,180
$9240
$51,052
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