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A Company Is Setting Aside $21,354 Today, and Wishes to Have

question 63

Short Answer

A company is setting aside $21,354 today, and wishes to have $30,000 at the end of three years for a down payment on a piece of property. What interest rate must the company earn?


Definitions:

Genuinely Cares

To have a sincere interest and concern for the well-being and happiness of others.

Competent

Having the necessary ability, knowledge, or skill to do something successfully or to a desired standard.

Confident

Feeling or showing certainty about something or someone, often characterized by a strong sense of self-assurance.

Dangerous Leaders

Individuals in positions of power who pose a risk to the welfare or safety of the people or institutions they lead.

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