How much money deposited to fund at the end of last withdraw


A small company wishes to set up a fund that can be used for technology purchases over the next 6 years. Their forecast is for $12,000 to needed at the end of the year 1 , decreasing by $2,000 each year therafter. The fund earns 8 % per year. How much money must be deposited to the fund at the end of the year 0 to just deplete the fund after the last withdraw.

Request for Solution File

Ask an Expert for Answer!!
Mechanical Engineering: How much money deposited to fund at the end of last withdraw
Reference No:- TGS0834642

Expected delivery within 24 Hours