SOLUTION: the opportunity to make an investment that promises to pay $24,000 after 6 years. If your company has a required return of 8.5% on this type of investment, what is the maximum amou

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Question 1117617: the opportunity to make an investment that promises to pay $24,000 after 6 years. If your company has a required return of 8.5% on this type of investment, what is the maximum amount that the company should pay for the investment?
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
x(1.085)^6 = 24,000
x(1.63147) = 24,000
x = 24,000/1.63147 = 14,710.68