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bigexternal bigexternal
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7 years ago
John wants to have $6,215 in 13 years to buy a Laser 2 sailboat with a spinnaker and trapeze. After he has owned the boat for 15 years he will need $2,500 for hull maintenance. How much must he deposit at the end of each year for the next 13 years to save enough money for the purchase and maintenance? His savings account pays 9%.
A) $300.67
B) $267.61
C) $213.02
D) $270.77
E) $211.68
Textbook 
Corporate Finance Online

Corporate Finance Online


Edition: 1st
Authors:
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We're using: Corporate Finance Online (Eakins, McNally)
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BlimpBlimp
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7 years ago
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Pol. Sci. Major
Minoring in Business
Columbia University Sophomore

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bigexternal Author
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#2
7 years ago
I'm surprised how many intellects exist in this community, thank you
We're using: Corporate Finance Online (Eakins, McNally)
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