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Lina20 [59]
2 years ago
11

How much would you need to deposit in an account now in order to have $3000 in the account in 15 years

Business
1 answer:
Anika [276]2 years ago
6 0

Answer:

Results are below.

Explanation:

Giving the following information:

Future value= $3,000

Number of periods= 15 years

I will assume an interest rate of 8% compounded annually.

<u>To calculate the present value (PV), we need to use the following formula:</u>

PV= FV/(1+i)^n

PV= 3,000/1.08^15

PV= $945.73

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2 years ago
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121.67 days

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3 years ago
a simplified alternative to capitalization of net income that does not take into account bad debts or expenses is called?
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