George plans to open his own furniture store in 12 years. To do so, he has committed $50,000in a bank certificate of deposit for 12 years. In addition, he plans to save $10,000 per year (end of year) for the next 4 years and $5,000 per year (end of year) for the following 8 years. How much money will George have in 12 years if the investments earn 13% per year compounded annually?

Question 17. Question George plans to open his own furniture store in 12 years. To do so, he has committed $50,000 in a bank certificate of deposit for 12 years. In addition, he plans to save $10,000 per year (end of year) for the next 4 years and $5,000 per year (end of year) for the following 8 years. How much money will George have in 12 years if the investments (i.e., CD and O $761,329.20 O $299,392.37 O s409,441.62 Student Answer: $521,926.01