business finance

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in five years time you will require $150000 to pursue a degree in university. you currently have $75000. at a bank rate 14% can you have the sufficient funds to achieve your ambition?
ii. at what interest rate will you just be able to obtain the exact sum to finance your intended ambition?

  • business finance -

    I. P = Po + Po*r*t.
    P = 75000 + 75000*0.14*5 =

    II. 150,000 = 75000 + 75000*r*5.
    r = ?.

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