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liberstina [14]
4 years ago
14

ou are scheduled to receive $35,000 in two years. When you receive it, you will invest it for 8 more years at 6.5 percent per ye

ar. How much will you have in 10 years?
Business
1 answer:
Studentka2010 [4]4 years ago
8 0

Answer:

$57,925

Explanation:

n = 8 years

i/r = 6.5%/year

PV = $35,000

The amount in 10 years (FV) = 35,000 x (1+0.065)^8 = $57,925

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