[Solved] Yamaha Inc

Question 58
Multiple Choice

Yamaha Inc.hires a new chief financial officer and promises to pay him a lump-sum bonus four years after he joins the company.The new CFO insists that the company invest an amount of money at the beginning of each year in a 7% fixed rate investment fund to insure the bonus will be available.To determine the amount that must be invested each year,a computation must be made using the formula for:

A)The future value of a deferred annuity.
B)The future value of an ordinary annuity.
C)The future value of an annuity due.
D)None of these answer choices is correct.

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