Math question Help Needed

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Today you invested $47,600 in a investment that pays 5% and will mature in 7 years. Once the investment matures, you will reinvest your funds for another 7 years in another investment that pays 4%. What will be the value of your investment after 14 years?

Jun 10th, 2015

Thank you for the opportunity to help you with your question!

fv=pv[fvif]

47600[0.7070]^14

534345


Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 10th, 2015

Incorrect answer

Jun 10th, 2015

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