Question
Company A showed a profit of $1.2 million last year. The CEO of the company expects the profit to increase by 8% each year over
Company A showed a profit of $1.2 million last year. The CEO of the company expects the profit to increase by 8% each year over the next 5 years and the profits will be continuously invested in an account bearing a 4.75% APR compounded continuously.
a) Calculate the 5-year future value. (Round your answer to three decimal places.)
b) Calculate the 5-year present value. (Round your answer to three decimal places.)
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A Guide To Risk Based Internal Audit System In Banks
Authors: CA Shiva Chaudhari
1st Edition
1947498649, 978-1947498648
