We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period.
A=6000*(1.09)^8+5000*(1.09)^4
which is equal to
=$19013.28(Approx).
compute the future value in year 9 of a $6000 deposit in year 1, and another...
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