Question: brian inc estimates that it will need 275000 in 6...
Brian Inc. estimates that it will need $275,000 in 6 years to expand its manufacturing facilities. A bank has agreed to pay Brian 5% interest compounded annually if the company deposits the entire amount now needed to accumulate $275,000 in 6 years.
Use the appropriate present or future value table:
FV of $1, PV of $1, FV of Annuity of $1 and PV of Annuity of $1
How much money does Brian need to deposit now? Be sure to use
all digits shown on the table and round your answer to a whole