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Your company needs 4 0 0 0 0 0 dollars in three years time for renovations and can earn 8 % interest on investments. (
Your company needs dollars in three years time for renovations and can earn interest on investments.
a What is the present value of the renovations?
Present value dollars
b If your company deposits money continuously at a constant rate throughout the threeyear period, at what rate should the money be deposited so that you have the dollars when you need it
Round your answers to decimal places.
Money deposited at a rate of dollars per year.
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