Question
Your family has given you 54,633 dollars and today you have decided to put that money in a savings account that yields 8% per year.
Your family has given you 54,633 dollars and today you have decided to put that money in a savings account that yields 8% per year. However, you already know that one year from today you will have to use part of that money to pay for a 11,341 dollars expense, and another expense of 23,339 dollars two years from now. If you are planning to collect whatever is left in your savings account 4 years from today, how much money will you be able to withdraw at that time (maximum value)? (note: round your answer to the nearest cent and do not include spaces, currency signs, or commas)
only use the interest compounding method (not the simple method)
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