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Calculate answers to the following questions using future value and/or present value tables.
a.If an accumulation of $1,000 is desired at the end of four years,what bank deposit must be made now to accomplish that goal,assuming 10 percent interest compounded annually?
b.A deposit of $600 made at the end of every six months for five years would grow to what amount,assuming 8 percent interest compounded semiannually.Round amounts to the nearest dollar.
Profit
Difference between total revenue and total cost.
Marginal Revenue
The additional income earned from the sale of one more unit of a product or service.
Demand Curve
A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.
Total Revenue
Total Revenue is the total amount of money received by a company from its sales of goods or services, before any expenses are subtracted.
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