Answered

IDNLearn.com offers a collaborative platform for sharing and gaining knowledge. Join our Q&A platform to receive prompt and accurate responses from knowledgeable professionals in various fields.

The Knutson Corporation needs to save ​$15 million to retire​ a(n) ​$15 million mortgage that matures in 10 years. To retire this​ mortgage, the company plans to put a fixed amount into an account at the end of each year for 10 years. The Knutson Corporation expects to earn 10 percent annually on the money in this account. What equal annual contribution must the firm make to this account to accumulate the ​$15 million by the end of 10 ​years?

Sagot :

Tippettmichelle36idn

Answer: 941,180.92

Step-by-step explanation: sorry if it is wrong.

We value your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Your search for solutions ends here at IDNLearn.com. Thank you for visiting, and come back soon for more helpful information.