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A firm has adopted a policy of increasing its annual dividend at a constant rate of 1 percent annually. The company just paid its annual dividend of S 1.7. What will the dividend be 13 years from now? Instruction: Enter your response rounded to two decimal places.

A firm has adopted a policy of increasing its annual dividend at a constant rate of 1 percent annually. The company just paid its annual dividend of S 1.7. What will the dividend be 13 years from now? Instruction: Enter your response rounded to two decimal places.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 16E
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A firm has adopted a policy of increasing its annual dividend at a constant rate of 1 percent annually. The company just paid its annual dividend of S 1.7. What will the dividend be 13 years from now? Instruction: Enter your response rounded to two decimal places.
Transcribed Image Text:A firm has adopted a policy of increasing its annual dividend at a constant rate of 1 percent annually. The company just paid its annual dividend of S 1.7. What will the dividend be 13 years from now? Instruction: Enter your response rounded to two decimal places.
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