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show formula work Alvab Corporation currently grows and sells fresh produce year-round in its homemade trailers. As the business is growing, Alvab hopes to significantly
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Alvab Corporation currently grows and sells fresh produce year-round in its homemade trailers. As the business is growing, Alvab hopes to significantly expand its number of trailers in 5 years. Alvah has deposited $100,000 into an investment account that will earn a 6% annual rate of interest. Alvab is also committed to depositing $10,000 into the same account at the end of each of the next 5 years. Instructions a. Calculate how much J\&L will have in its account at the end of 5 years. b. Assume now that Alvab will make the $10,000 deposits at the beginning of the next 5 years. Calculate how much Alvab will have in its account at the end of year 5 . c. Alvab knows it needs $500,000 in 5 years to purchase additional trailers. Assuming it will make annual deposits of $10,000 into an account earning 6% annual interest at the end of the next 5 years, calculator to determine how much it must deposit today Step by Step Solution
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