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Answer it if you are sure about the answer Jane won the lottery and bought a ranch to breed ostriches. She expects the operation to
Answer it if you are sure about the answer
Jane won the lottery and bought a ranch to breed ostriches. She expects the operation to grow at 8.08% per year. She wants to be sure that she will be able to operate the ranch for at least 7 years. The total yearly expenses at the end of the first year are expected to be $78,000 and increase at the same rate as the operation. If the bank pays Jane 2.76% per year in her accounts, how much money will she have to save today to guarantee the operation of the ranch?
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