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I cannot figure out letters e. and f. at the top of the page.. Over the past several years, Catherine Lee has been able to
I cannot figure out letters e. and f. at the top of the page..
Over the past several years, Catherine Lee has been able to save regularly. As a result, she has $54, 188 in savings and investments today. She wants to establish her own business in 5 years and feels she will need $100,000 to do so. If she can earn 4 percent on her money, how much will her $54, 188 in savings/investments be worth in 5 years? Will Catherine have the $100,000 she needs? If not, how much more money will she need? Given your answer to part a, how much will Catherine have to save each year over the next 5 years to accumulate the additional money? Assume that she can earn interest at a rate ofStep by Step Solution
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