The state of Freedonia is concerned by the threat posed by its increasingly warlike neighbor, Sylvania. After the latest census figures are considered, the Freedonian government realizes that it will need both more soldiers and more factory output of military materials. The government introduces laws to reward larger families with tax credits, reforms the educational system to increase the number of students in vocational training, and institutes a military draft. According to the text, the government of Freedonia is engaging in

Over the past several years, joyce chen has been able to save regularly. as a result, today she has $54,188 in savings and investments. she wants to establish her own business in 5 years and feels she will need $100,000 to do so. a. if she can earn 6% on her money, how much will her $54,188 in savings/investments be worth in 5 years? will joyce have the $100,000 she needs? if not, how much more money will she need? b. given your answer to part a, how much will joyce have to save each year over the next 5 years to accumulate the additional money? assume she can earn interest at a rate of 6%. c. if joyce can afford to save only $4,000 a year then, given your answer to part a, will she have the $100,000 she needs to start her own business in 5 years?