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A. (1) What is the future value of an initial $100 after three years if it is invested in an account paying 10%annual interest? (2)
A. (1) What is the future value of an initial $100 after three years if it is invested in an account paying 10%annual interest?
(2) What is the present value of $100 to be received in three years if the appropriate interest rate is 10%?
B. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. For example, if a companys sales are growing at a rate of 20%per year, approximately how long will it take sales to triple?
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