you plan to invest $16000 in 4 years when you graduate. If you earn 8.5 per year, how much will you have 14 years from now?
+118608 you plan to invest $16000 in 4 years when you graduate. If you earn 8.5 per year, how much will you have 14 years from now?
FV=16000(1.085)^10
$${\mathtt{16\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1.085}}\right)}^{{\mathtt{10}}} = {\mathtt{36\,175.735\: \!070\: \!678\: \!940\: \!733\: \!5}}$$
+118608 you plan to invest $16000 in 4 years when you graduate. If you earn 8.5 per year, how much will you have 14 years from now?
FV=16000(1.085)^10
$${\mathtt{16\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1.085}}\right)}^{{\mathtt{10}}} = {\mathtt{36\,175.735\: \!070\: \!678\: \!940\: \!733\: \!5}}$$
