Question
Q9. Calculate the future value of $29,000 invested for 14 years assuming an annual interest rate of 7.33%, with annual savings of $6,000 per year.
Q9. Calculate the future value of $29,000 invested for 14 years assuming an annual interest rate of 7.33%, with annual savings of $6,000 per year.
a. Not changing anything from Q9, what is the amount of the cell that is highlighted on the Ending Value Schedule?
b. Keeping everything as is since Q9, looking on the Ending Value Schedule, how much interest was earning in Year 10?
c. Again, no changes since Q9, how much is the amount for the V-lookup?
d. Keeping everything as is since Q9, looking on the Ending Value Schedule, how much was the investment worth if we held it to Year 30?
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