2 years ago

7 × 43 is it a reasonable estimate of the product 280 using true and false

Mathematics

1 answer:

White raven [17]2 years ago

7 0

False the answer is 301

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The XYZ company is seeing its value declining at a rate of 3.2% per year. If the current value is $2,300,000, what will the valu

slega [8]

Given that its value decreases by r = -3.2% (i.e decreasing means that the rate is negative) and that the current value of the company is P = 2,300,000.

The value of the company in n = 5 years is given by

$FV=P(1+r)^n \\ \\ =2,300,000(1-0.032)^5 \\ \\ =2,300,000(0.968)^5=2,300,000(0.8499) \\ \\ =\$1,954,810.81$