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A) You invest $4800 at a simple annual interest rate of 4% for three years, then reinvest the total plus an additional $1000 at a
A) You invest $4800 at a simple annual interest rate of 4% for three years, then reinvest the total plus an additional $1000 at a simple annual interest rate of 3% for five more years. What is the final value of your investment?
The final value is ___$. B) Money is invested at a simple annual interest rate of 4%, and will have a future value of $3000 in 9 months. What is the present value of this investment?
The present value is ___$.
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