An engineering firm estimates that its cost for employer


An engineering firm estimates that its cost for employer sponsored health insurance will be $750,000 next year and increase at 11% per year for the next 5 years. The company CFO wants to budget a uniform amount each year to cover these costs. If the firm's rate of return is 6% per year, how much should be invested each year for employer sponsored health care? Express your answer in $ to the nearest $1,000.

Request for Solution File

Ask an Expert for Answer!!
Financial Management: An engineering firm estimates that its cost for employer
Reference No:- TGS01360671

Expected delivery within 24 Hours