Business, 17.02.2020 19:22 missfuture2020p5umxt
McCarthy Construction is trying to bring the company-funded portion of its employee retirement fund into compliance with HB-301. The company has already deposited $500,000 in each of the last 5 years. Beginning in year 6, McCarthy will increase its deposits by 15% per year through year 20.
1. How much will be in the fund immediately after the last deposit, if the fund grows at a rate of 12% per year?
Answers: 3
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