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Question - Present Value and Future Value
Brian Inc. estimates that it will need $150,000 in ten 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 $150,000 in ten 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? Be sure to use all digits shown on the table and round your answer to a whole dollar.
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