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Your company needs $$500,000$ in two years' time for renovations and can earn $4\%$ interest on investments.

$($a$)$ What is the present value of the renovations?

Present value $=$ dollars.

$($b$)$ If your company deposits money continously at a constant rate throughout the two$-$year period, at what rate should the money be deposited so that you have the $$500,000$ when you need it$?$

$ should be deposited per year to have $$500,000$ in two years' time.

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