Business, 18.09.2019 02:20 itscheesycheedar

An airport in japan is planning to purchase a parcel of land for building additional executive hangars in five years. the price of land currently is $2,000,000. the average inflation rate is 5 percent in the next five years. how much should the airport invest in a uniform amount per year for five years in an account that pays 8 percent interest annually to be able to purchase the land in five years?

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