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a) Suppose you make a one-time $15,000 investment into an account that yields a 8% annual return. If you keep the account for 9 years,
a) Suppose you make a one-time $15,000 investment into an account that yields a 8% annual return. If you keep the account for 9 years, what should be the account balance? Round your answer to 2 decimal places; (for example 2345.25)
b) What is the present value of $46,000 to be received 12 years from today, assuming an annual discount rate of 8 percent? Round your answer to 2 decimal places; (for example 2345.25)
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