Homework Answers
Required amount from years 3 to 5 being D,
55,000 x F/P(8%, 5) + 90,000 x F/P(8%, 3) + D x F/A(8%, 3) = 360,000
55,000 x 1.4693 + 90,000 x 1.2597 + D x 3.2464 = 360,000
80,811.5 + 113,373 + D x 3.2464 = 360,000
194,184.5 + D x 3.2464 = 360,000
D x 3.2464 = 165,815.5
D = $51,076.73
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