Answer:
Step-by-step explanation:
Value today = $25,000
Value in 1yr = $25,000 - ($25,000 * 17/100)
= $25,000 - $4,250 = $20,750
Value in 2yrs = $20,750 - ($20,750 * 17/100)
= $20,750 - $3,527.5 = $17,222.5
Value in 3yrs = $17,222.5 - ($17,222.5 * 17/100)
= $17,222.5 - $2,927.83 = $14,294.67
Value in 4yrs = $14,294.67 - ($14,294.67 * 17/100)
= $14,294.67 - $2,430.1 = $11,864.57
Value in 5yrs = $11,864.57 - ($11,864.57 * 17/100)
= $11,864.57 - $2,016.98 = $9,847.59
