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Milner Company will invest $800,000 today. The investment will earn 6% for 5 years, with no funds withdrawn. In 5 years, the

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Answer #1

We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period.

A=800,000*(1.06)^5

=800,000*1.33823

=$1070584

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