Which option would be worth more to you now
Your grandmother has told you she can either give you $4,000 now or $5,000 when you graduate from college in three years. Your savings account earns 7% interest, compounded annually. Which option would be worth more to you now, and how much more?
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Your grandmother has told you she can either give you $4,000 now or $5,000 when you graduate from college in three years. Your savings account earns 7% interest, compounded annually.
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The 4 Canon operators are paid $8.40 an hour each. They work a 40-hour week and 51 weeks a year. The machines break down periodically, resulting in annual repair costs of $1,200 for each machine. Supplies cost $1,080 a year for each machine.
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