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  • GB 550 The Start Up Firm You Founded Is Trying To Save 10000

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    Charlotte
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    The start-up firm is trying to save $10,000 to buy land for a small warehouse expansion. To do so, the finance manager will make annual deposits of $1,250 into an account paying 12% annual interest. It will take 8 years to reach the $10,000 goal, with the last deposit being $750.

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    Gb 550 the Start Up Firm You Founded is Trying to Save 10000

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    The start-up firm is trying to save $10,000 to buy land for a small warehouse expansion. To do so, the finance manager will make annual deposits of $1,250 into an account paying 12% annual interest. It will take 8 years to reach the $10,000 goal, with the last deposit being $750.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    92 views1 page

    GB 550 The Start Up Firm You Founded Is Trying To Save 10000

    Uploaded by

    Charlotte
    The start-up firm is trying to save $10,000 to buy land for a small warehouse expansion. To do so, the finance manager will make annual deposits of $1,250 into an account paying 12% annual interest. It will take 8 years to reach the $10,000 goal, with the last deposit being $750.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    GB 550 - The start-up firm you founded is trying to save

    $10,000
    GB 550 - The start-up firm you founded is trying to save $10,000

    Question

    The start-up firm you founded is trying to save $10,000 in order to buy a parcel of land for a
    proposed small warehouse expansion

    The start-up firm you founded is trying to save $10,000 in order to buy a parcel of land for a
    proposed small warehouse expansion. In order to do so, your finance manager is authorized to
    make deposits of $1250 per year into the company account that is paying 12% annual interest.
    The last deposit will be less than $1250 if less is needed to reach $10,000.

    Ø How many years will it take to reach the $10,000 goal and how large will the last deposit be?

    GB 550 - The start-up firm you founded is trying to save $10,000

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