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You want to invest $10,060 in a business opportunity. If you keep the money invested in the business for four years, you will receive $11,180
You want to invest $10,060 in a business opportunity. If you keep the money invested in the business for four years, you will receive $11,180 back. If you keep the money invested in the business for six years, you will receive $13,060 back. Currently, the money is in your savings account, which earns 10% interest, compounded annually. (Future Value of $1. Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor from the PV tables.) a. What is the future value of the money if it remains in your savings account for four years? (Round your answer to the nearest dollar amount.) Future Value b. What is the future value of the money if it remains in your savings account for six years? (Round your answer to the nearest dollar amount.) Future Value c. Is it better to invest in the business for four years, six years, or not at all? O4 years 6 years O Not at all
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