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Your parents are scheduled to receive $18,500 in three years as a retirement bonus. When they receive the bonus, they have decided to reinvest it
Your parents are scheduled to receive $18,500 in three years as a retirement bonus. When they receive the bonus, they have decided to reinvest it for nine more years at an annual rate of 9.25 percent. |
How much will the bonus be worth in twelve years time? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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