Determine value of account after three years
Value V of the bank account in which $150 is invested at 3.00% interest, compound annually is provided by equation below where t is time in years. Determine value of account after three years. V= 150(1.0300)^t.
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In light of a recent large corporation bankruptcy, auditors are becoming increasingly concerned about the possibility of fraud. Auditors might be helped in determining the chances of fraud if they carefully measure cash flow.
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