Mathematics - Exponential and Reciprocal Functions
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Present value calculations:
1. What is the present value of nine annual cash payments of $4000 to be paid at the end of each year using an interest rate of 6%?
2. What is the present value of $15,000 to be paid at the end of 20 years using an interest rate of 18%?
3. How much cash must be deposited in a savings account as a single amount in order to accumulate $300,000 at the end of 12 years, assuming that the account will earn 10% interest?
4. How much cash must be deposited in a savings account (as a single amount) in order to accumulate $50,000 at the end of 7 years, assuming that the account will earn 12% interest?
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