Columbus Clinic expects to receive $20000 five years from now. As part of another contract the cli Show more Columbus Clinic expects to receive $20000 five years from now.
As part of another contract the clinic must make a payment of $30000 on a loan six years from now. The clinic wants to set aside an amount today that combined with the money received will cover its obligation of $30000. Assume that the clinics cost of capital is 7%. To the nearest hundred dollars how much money does the clinic need to set aside today? A. $5700 B. $7971.94 C. $5916.98 D. None of the above Show less
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