Find the future value of AED 18,000 per month (at the beginning of the month) for seventh years at 8 percent. At the end of 7 years you take the proceeds and invest them for 5 years at 10 percent. How much will you have after 12 years?

7 years starting from the beginning of the month , so the number of times it grows n = 1+7*12= 85…

Answered: years | bartleby

Business

Finance

years

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter1: Understanding Personal Finance

Section1.4: Perform Time Value Of Money Calculations

Problem 3CC

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Find the future value of AED 18,000 per month (at the beginning of the month) for seventh years at 8 percent. At the end of 7 years you take the proceeds and invest them for 5 years at 10 percent. How much will you have after 12 years?

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