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on January 152007 flynn corp adopted a plan to accumulate funds for environmental improvements beginning july 12011 at an estimated cost of $3000000 Flynn plans to make four annual deposits

on January 15,2007, flynn corp adopted a plan to accumulate funds for environmental improvements beginning july 1,2011, at an estimated cost of $3,000,000. Flynn plans to make four annual deposits in a fund that will earn interest at 10% compounded annually. The first deposit was made on July 1,2007. Future value factors are as follows.

future value of 1 at 10% for 5 periods 1.61

future value of ordinary annuity of 1 at 10% for 4 periods 4.64

future value of annuity due of 1 at 10% for 4 periods 5.11

flynn should make four annual deposits of how much each?

 

Mar 20 2020 View more View Less

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