You have $17,250 you want to invest for the next 22 years. You are offered an in

Question

You have $17,250 you want to invest for the next 22 years. You are offered an investment plan that will pay you 7 percent per year for the next 11 years and 11 percent per year for the last 11 years. Requirement 1: How much will you have at the end of the 22 years? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Amount $ Requirement 2: If the investment plan pays you 11 percent per year for the first 11 years and 7 percent per year for the next 11 years, how much will you have at the end of the 22 years? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Amount $

Explanation / Answer

Ans. the question has been solved with the help of Financial calulator FC-200V

Requirement 1

N= 11, PV= -$17,250, I= 7%, FV = ?

FV = $36,308.69618

Now, N=11,PV= -$36,308.69618, I=11%, FV=?

FV = $114,436.198 = $114,436.19 (app)

Requirement 2

N= 11, PV= -$17,250, I= 11%, FV = ?

FV = $54,367.81333

Now,N=11, PV=-$54,367.81333, I=7%, FV=?

FV= 114,436.198 = $114,436.19 (app)

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