A small company wants to deposit a single amount of money, Financial Management

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A small company wants to deposit a single amount of money

A small company wants to deposit a single amount of money so that it will have enough to purchase a new truck costing $50, 000 five years from now. If the money can be deposited into an account which earns interest at 10% per year, the amount that must be deposited is how much? Draw a cash flow diagram.

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Financial Management: A small company wants to deposit a single amount of money

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