Ando Company earns 11% on an investment that pays back $660,000 at the end of each of the next 5 years. Ando finance department has the following values related to the time value of money to help in its planning process and compounded interest decisions. To the closest dollar, what is the amount Ando invested to earn the 11% rate of return?

Question

Ando Company earns 11% on an investment that pays back $660,000 at the end of each of the next 5 years. Ando finance department has the following values related to the time value of money to help in its planning process and compounded interest decisions.  To the closest dollar, what is the amount Ando invested to earn the 11% rate of return?

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The Answer of Ando Company earns 11% on an investment that pays back $660,000 at the end of each of the next 5 years. Ando finance department has the following values related to the time value of money to help in its planning process and compounded interest decisions.  To the closest dollar, what is the amount Ando invested to earn the 11% rate of return?

Ando Company Earns 11% on an Investment That Pays Back