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Brief Exercise G-10 Blossom Company earns 8% on an investment that will return $430,000 7 years...

Brief Exercise G-10

Blossom Company earns 8% on an investment that will return $430,000 7 years from now.

Click here to view the factor table.

(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

What is the amount Blossom should invest now to earn this rate of return? (Round answer to 2 decimal places, e.g. 25.25.)

Blossom Company should invest $enter an amount to be invested in dollars rounded to 2 decimal places

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Answer #1
Future value 430000
X PV factor 8% 0.58349 =1/1.08^7
Blossom Company should invest 250900.70
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