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Homework: HW_CH5 Save Score: 0 of 3 pts 8 of 9 (7 complete) HW Score: 87.1%, 27 of 31 pts Problem 5-37 (similar to) (Compounding
Homework: HW_CH5 Save Score: 0 of 3 pts 8 of 9 (7 complete) HW Score: 87.1%, 27 of 31 pts Problem 5-37 (similar to) (Compounding using a calculator and annuities due) Imagine that Homer Simpson actually invested $140,000 10 years ago at a 9 percent annual interest rate. If he invests an additional $1,800 a year at the beginning of each year for 15 years at the same 9 percent annual rate, how much money will Homer have 15 years from now? a. If Homer invested $140,000 10 years ago at a 9 percent annual interest rate, what is the future value of this investment 15 years from now? $ 1207231.29 (Round to the nearest cent.) b. If Homer invests an additional $1,800 a year at the beginning of each year for 15 years at the same 9 percent annual rate, what is the future value of this investment 15 years from now? $ (Round to the nearest cent.) Enter your answer in the answer box and then click Check
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