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07-03-2020
Business

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ou are scheduled to receive $35,000 in two years. When you receive it, you will invest it for 8 more years at 6.5 percent per year. How much will you have in 10 years?

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anthonynguyen3006 anthonynguyen3006

10-03-2020

Answer:

$57,925

Explanation:

n = 8 years

i/r = 6.5%/year

PV = $35,000

The amount in 10 years (FV) = 35,000 x (1+0.065)^8 = $57,925

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