Fenland Co. plans to retire $100 million in bonds in five years, so it wishes...
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Accounting
Fenland Co. plans to retire $100 million in bonds in five years, so it wishes to create a fund by making
equal investments at the beginning of each year during that period in an account it expects to earn 8%
annually. What amount does Fenland need to invest each year?
A. $23,190,400
B. The amount can't be determined from the given information.
C. 15,783,077
D. $17,045,650
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