Investment and Interest : Finding Present Value and Rate of Investment
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Your company needs $500,000 in two years time for renovations and can earn 9% interest on investments.
a) What is the present value of the renovations?
b) If your company deposits money continuously at a constant rate throughout the two year period, at what rate should your money be deposited so that you have $500,000 when you need it?
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Present value and rate of investment are investigated. The solution is detailed and well presented.
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