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2 . TI - In order to build a resort after retirement, AAA plans to make deposit $ 1 8 0 , 0 0 0

2. TI- In order to build a resort after retirement, AAA plans to make deposit $180,000 each year in 15 years. If the interest rate is 8% per year, calculate the present value of this saving cash flow? (Assume that the first deposit made at the end of the year)? Calculate again with the assumption that the first depost made at the beginning of the year?
II- Assume that the total cost of building resort after 16years will be $10,000,000. Does AAA have enough money to build the resort?

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