These are two different questions, they have already been answered correctly. However, I would like to know WHY the equations are different even though the questions are similar! Thumbs up!

You are scheduled to recelve $41,000 In two years. When you recelve it, you will Invest it for 7 more years at 5.5 percent per year. How much will you have in 9 years? Multiple Choice $66,38287 $45,967.81 $62,623.94 $56,659.75 $59.641.85 Explanation We need to find the FV of a lump sum. However, the money will only be invested for 7 years, so the number of periods is 7 . FV=PV(1+tFV=$41,000(1.055)7FV=$59,641.85 Multiple Choice $153.983.95 $25.886.92 $263,653.32 $128.097.02 $100,702.67 Explanation FV=$5,900[(1.062121)/.062]=$100,702.67FV=$100,702.67(1.0624)=$128,097.02