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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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