Question

] You are scheduled to receive $20,000 in two years. When you receive it, you will invest it for six more years at 8.4 percent per year. How much will you have in eight years?

Answer 1

32449.3

Explanation:

use the formula A = P(1+r / 100)^t

20000 × (1+ (8.4 / 100))^6

=32449.3