Answer:
56
Step-by-step explanation:
171÷3=57
56,57,58
I will have $32 470.69 in 10 yr.
I am not investing until 2 yr from now so, in 10 yr time, I will have invested for only 8 yr.
The formula for the future value (FV) of my investment is
FV = <em>C</em>(1 + <em>r</em>)^<em>n</em>
where <em>C</em> = my initial cash
<em>r</em> = the interest rate
<em>n</em> = the number of years
FV = $16 000(1.0925)^8 = $32 470.69
Answer:
m≥3
Step-by-step explanation:
