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2) Compute the following: a) You invest $16,000 today at 9 percent per year. How much will you have after 15 years? b) What is
2) Compute the following: a) You invest $16,000 today at 9 percent per year. How much will you have after 15 years? b) What is the current value of $130,000 after 10 years if the discount rate is 12 percent? c) You invest $3,500 a year (at the end of a period) for 20 years at 11 percent. How much will you have after 20 years?
*Use the PV-FV tables to solve all problems and show how you arrived at your answer.
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