How much will your cash reserve be worth in three years

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Problem: Your small business has a cash reserve of $200,000, earning 2% annual interest. How much will your cash reserve be worth in 3 years? You want $1 million in your retirement account in 50 years. If your account grows at an annual rate of 4%, how much do you have to deposit today to reach $1 million in 50 years?

Reference no: EM133596566

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