Question

If you invest $9,200 per period for the following number of periods, how much would you have in each of the following instances? Use Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods. a. In 10 years at 7 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Answer 1

Answer:

future value = $18097.80

Step-by-step explanation:

given data

invest = $9,200

time = 10 years

rate = 7 percentage

to find out

Future  value

solution

we get here future value

future value = invested × $(1+r)^{t}$    ...................1

put her value we get

future value = $9200 × $(1+0.07)^{10}$

future value = $9200 × 1.96715

future value = $18097.80