One year ago, Marshall Laminating Company deposited $16,500 in an investment account for the purpose of buying new equipment three years from today.

One year ago, Marshall Laminating Company deposited $16,500 in an investment account for the purpose of buying new equipment three years from today..

One year ago, Marshall Laminating Company deposited $16,500 in an investment account for the purpose of buying new equipment three years from today. Today, it is adding another $12,000 to this account. The company plans on making a final deposit of $20,000 to the account one year from today. How much will be available when it is ready to buy the equipment, assuming Marshall earns 5 percent on its invested funds? 

One year ago, Marshall Laminating Company deposited $16,500 in an investment account for the purpose of buying new equipment three years from today.

Leave a Reply