Using the formulas for Present Value and Future Value, determine which would be the better...
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Accounting
Using the formulas for Present Value and Future Value, determine which would be the better value. Show your calculations. Assuming an interest rate of 3% per year can be earned, which is preferable - $2000 today or $2200 one year from now. Explain your answer. How much would your savings account balance be worth at the end of three years if your initial deposit is $400 and you earn 2% per year? If inflation is 3% per year, that implies the overall level of goods increases at 3% per year. How much would you need to earn on your savings in this environment? Explain. If you receive $1100 in twelve months from a person you loaned money to, and you earned 10%, how much money did you loan to this person
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