Question
You have found an investment that pays 9.5% interest per year, You can afford to invest $12,000 per year. How much money will you
You have found an investment that pays 9.5% interest per year, You can afford to invest $12,000 per year. How much money will you have in the account after 30 years? Reference the following formulas to solve the problem: FV=PV / (1+r)^t -1) / r PV = FV (1+r)^t PVA = PMT(((1-(1+r)^-t) /r)) FVA = PMT(((1+r)^t)
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Step 11 Computation of Future Value AnnuityFVA Payment per period PMT is 12000 Rate o...Get Instant Access to Expert-Tailored Solutions
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Get StartedRecommended Textbook for
Entrepreneurial Finance
Authors: Philip J. Adelman; Alan M. Marks
6th edition
9780133099096, 133140512, 133099091, 978-0133140514
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