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gewusel gewusel
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6 years ago
Orange Credit Union expects an average annual growth rate of 16% for the next four years. If the assets of the credit union currently amount to $2.7 million, what will the forecasted assets be in four years?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
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wrote...
6 years ago
PV = 2700000; m = 1; i = 16%; n = 4
FV = 2700000(1 + .16)4 = 2700000(1.81063936) = 4 888 726.27
Forecasted assets will amount to $4 888 726.27.
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