Question
You have $17,000 you want to invest for the next 24 years. You are offered an investment plan that will pay you 8 percent per
You have $17,000 you want to invest for the next 24 years. You are offered an investment plan that will pay you 8 percent per year for the next 12 years and 12 percent per year for the last 12 years. |
a. | How much will you have at the end of the 24 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
b. | If the investment plan pays you 12 percent per year for the first 12 years and 8 percent per year for the next 12 years, how much will you have at the end of the 24 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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