Your company wants to set aside a fixed amount every year to a sinking fund to replace a piece of industrial equipment costing $250,000 at the end of five years from now. the sinking fund is expected to earn 5% interest. how much must your company deposit each year to meet this goal?
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the goal-setting step that is described by the sentence "establistes a commitment to the goal" is write it down. when you write something down, it's said that you have and feel more committed to completing the goal because it's in black and white and you have written it and read it yourself. committing to completing a goal is important because if you can't commit, you likely won't complete.