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You have $20,000 you want to invest for the next 40 years. You are offered an investment plan that will pay you 6 percent per

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You have $20,000 you want to invest for the next 40 years. You are offered an investment plan that will pay you 6 percent per year for the next 20 years and 10 percent per year for the last 20 years. a. How much will you have at the end of the 40 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 10 percent per year for the first 20 years and 6 percent per year for the next 20 years, how much will you have at the end of the 40 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Amount b. Amount Solve for the unknown number of years in each of the following: (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Years Future Value Present Value $ 195 $ 2,105 Interest Rate 81% $ 873 11 $ $ 10 $ 47,800 38,650 3,500 326,500 213,380 $ 15 $ Solve for the unknown interest rate in each of the following: (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Years Interest Rate $ 9 % $ Present Value 715 $ 905 $ 15,000 $ 70,300 Future Value 1,381 1,718 141,832 12 26 $ % % 15 $ 312,815

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