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Frisco hardware is trying to do some financial planning

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Reference no: EM131217741

Frisco Hardware is trying to do some financial planning. The company knows it will need to have $257250 in 13 years to pay off a loan. The company will be receiving $99431 at the end of year 8 from a licensing deal with another manufacturer, but the company will have to make a large payment of $63390 at the end of year 6 to fund a retirement account for the CEO. How much should the company deposit today to meet all future obligations? Assume an interest rate of 6% compounded annually.

Reference no: EM131217741

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