Math question Help Needed


label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Your current investment will mature in 2 years for $30,000, at which time you will reinvest the funds for 10 more years at 7% per year. What will be the value of your investment at the end of the 12th year?

Jun 10th, 2015

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Jun 10th, 2015

Present Value= $30000
Interest= 7% 
Number of periods= 10 years
FV= PV * (1+r)^n
FV=$30000*(1.07)^10
Fv=30000(1.967)
Fv = $59010
   

Jun 10th, 2015

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