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How much would have in account after twelve years

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Problem 1: More Profits, Inc. (MPI) earned a profit of 20% on sales of $24,000,000. Its balance sheet shows total assets of $8,000,000. What is the Total Asset Turnover ratio for MPI?

Problem 2: You invest $7,000 into a savings account that pays an annual interest rate of 12.00%. How much would you have in your account after 12 years?

Reference no: EM132761048

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