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Time value Personal Finance Problem You can deposit $6,000 into an account paying 11% annual interest either today or exactly 5 years from today. How
Time value Personal Finance Problem You can deposit $6,000 into an account paying 11% annual interest either today or exactly 5 years from today. How much better off will you be 20 years from now if you decide to make the initial deposit today rather than 5 years from today? The future value at the end of 20 years if you deposit $6,000 at 11% today is $(Round to the nearest dollar) The future value at the end of 20 years if you deposit $6,000 at 11% 5 years from today is $(Round to the nearest dollar.) If you invest the $6,000 now instead of waiting for 5 years to make the investment, you would be better off by $(Round to the nearest dollar.)
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