contestada

You are scheduled to receive $16,500 in three years. when you receive it, you will invest it for nine more years at 9.5 percent per year. how much will you have in twelve years?

Respuesta :

I'm am assuming the interest is compounded each year.

amount after 12 years = 16,500( 1 + 0.95)^9 =  $37,343.16 

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