You are scheduled to receive $19,000 in two years. When you receive it, you will invest...

Question

Question

Answer 1

Answer #1

1)

Amount at the end of 8 years = 19000*(1+9.5%)^6 = $ 32,752.04

2)

Principal = 40,000

Amount at the end of period = 175,000

Interest rate = 9%

175,000 = 40,000*(1+9%)^n

4.375 = 1.09^n

n = 17.12 years = approx 17 years

So Length of time to be waited from now = 17.12 +2 = 19.12 years

Answer 2

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