Z2=49 what are the solution?
2 answers:
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Answer:
$41,162.71
Step-by-step explanation:
We have the formula to find out the future value of an amount:
FV = PV when:
- PV is the present value
- r : interest rate or inflation rate
- n is the duration
So that, we substitute PV = $39,500, inflation rate = 3% and duration = 3 into the above fomula, we have:
FV = 39,500x = 41,162.71 is the amount Kaplans need for their living expenses three years from now
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