Solution: Your company needs $500,000 in two years time for renovations and can earn 9% interest on investments. What is the present value of the renovations?
Question: Your company needs $500,000 in two years time for renovations and can earn 9% interest on investments.
- What is the present value of the renovations?
- If your company deposits money continuously at a constant rate throughout the two-year period, at what rate should the money be deposited so that you have the $500,000 when you need it?
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