Dodd Company is considering an investment, which will return a lump sum of $675,000 four years from now. Below is some of the time value of money information that Dodd has compiled that might help in planning compounded interest decisions. To the closest dollar, what amount should Dodd Company pay for this investment to earn a 10% return?

Question

Dodd Company is considering an investment, which will return a lump sum of $675,000 four years from now. Below is some of the time value of money information that Dodd has compiled that might help in planning compounded interest decisions.  To the closest dollar, what amount should Dodd Company pay for this investment to earn a 10% return?

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The Answer of Dodd Company is considering an investment, which will return a lump sum of $675,000 four years from now. Below is some of the time value of money information that Dodd has compiled that might help in planning compounded interest decisions.  To the closest dollar, what amount should Dodd Company pay for this investment to earn a 10% return?

Dodd Company Is Considering an Investment, Which Will Return a Lump