Use the compounding or discounting formula to answer the following questions. a. Your small business has a

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Use the compounding or discounting formula to answer the following questions.

a. Your small business has a cash reserve of about $200,000, earning 2% annual interest. How much will that be worth in 3 years?

b. You want $1 million in your retirement account in 50 years. If your account grows at an annual rate of 4%, how much would you have to deposit today to reach $1 million in 50 years?

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Principles Of Economics

ISBN: 9781429237864

1st Edition

Authors: Betsey Stevenson, Justin Wolfers

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Question Posted: Mar 08, 2024 03:00 AM

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Use the compounding or discounting formula to answer the following questions. a. Your small business has a

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Principles Of Economics

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