Question
Assume you have decided to start investing $9,600 each year, starting at the end of this year. How much will you have in each of
Assume you have decided to start investing $9,600 each year, starting at the end of this year. How much will you have in each of the following situations?
a. In 14 years at 6 percent? (Enter your answer as a positive number rounded to 2 decimal places.)
b. In 30 years at 10 percent? (Enter your answer as a positive number rounded to 2 decimal places.)
2.
You have just been notified that you have inherited $103,000 to be paid in 20 years. At an interest rate of 16 percent, how much should you be willing to accept now in exchange for the future inheritance? (Enter your answer as a positive number rounded to 2 decimal places.)
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