Does withdrawing from a class hurt my IB/business school chances? Should I retake later?

Background: I am a sophomore at an Ivy League college with a 3.6 GPA. This term, I am taking microeconomics with multivariable calculus, which is one of the hardest economics courses at my school. I just took a midterm and am really worried that I bombed it. Depending on how badly I did, I might consider withdrawing from the course. I am a statistics/econ major, so I might need to retake the course at some point.

Questions: Will withdrawing hurt my chances for IB or business school? If I withdraw, I will most likely be able to get my GPA up to a 3.7 by the time recruiting starts. How bad would a W look on my transcript when applying for banking and business school? Do they care if I retake it later?

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