(Future value of an annuity)Imagine that Homer Simpson actually invested the

$120,000

he earned providing Mr. Burns entertainment

8

years ago at

9.5

percent annual interest and that he starts investing an additional

$2,300

a year today and at the beginning of each year for

10

years at the same

9.5

percent annual rate. How much money will Homer have

10

years from today?

Question content area bottom

Part 1

The amount of money Homer will have

10

years from now is

$enter your response here.

(Round to the nearest cent.)