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FinanceQ&A LibraryYou are scheduled to receive $15,000 in two years. When you receive it, you will invest itfor six more years at 8 percent per yearRequired:How much will you have in eight years? (Enter rounded answer as directed, but do notuse rounded numbers in intermediate calculations. Round your answer to 2 decimalplaces (e.g., 32.16).)AmountAQuestion

Asked Sep 19, 2019

196 views

Step 1

Given,

Money Received after 2 years and Present Value of the investment for 6 years (PV) = $15,000

Time Period (nper) = 6 years

Interest Rate = 8%

Calculation of mone...

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