Please given answer general accounting You are scheduled to receive $43,000in two years. When you receive it, youwill invest it for 9 more years at 5.5percent per year.How much will you have in 11 years?

Step 1: Formula Future value = Principal amount x (1 + interest rate)number of years Step 2: Given…

Answered: You are scheduled to receive $43,000 in…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 16P

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You are scheduled to receive $43,000 in two years. When you receive it, you will invest it for 9 more years at 5.5 percent per year. How much will you have in 11 years?