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A corporation worth 40 million is expected to grow 8% per year compounded annually for 5 years. (A) find the future value to the nearest million. (B)

A corporation worth 40 million is expected to grow 8% per year compounded annually for 5 years. (A) find the future value to the nearest million. (B)
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A corporation worth 40 million is expected to grow 8% per year compounded annually for 5 years. (A) find the future value to the nearest million. (B)

asked
User Hkachhia
by
8.4k points

2 Answers

0 votes
I’m not for Sure I think is 56
answered
User Mekki MacAulay
by
8.2k points
4 votes

Answer:

$56 million

Explanation:

8% x 5 = 40%

40% of 40 = 16

40 + 16 = 56

answered
User HemChe
by
7.6k points
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