If a company needs $50,000, 5 years from now, how much would need to be deposited today using a required rate of return of 10%? Use one of the following factors to calculate your answer:
- Factors: Future Value of $1 1.6105
- Future Value of an annuity 6.1051
- Present Value of $1 .6209
- Present Value of an annuity 3.7908