Find the value of P at year 0. If the interest rate is 10%. Above the line #'s are Positive Below the line #'s are Negative 3000 1250 1000 750 500 250 250 750 $5,543.00 $4,569.36 $5,123.56 $3,967.27 5. 4.

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Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.