You have $13,900, you decided to invest it in an investment plan that will pay you 13% interest for the next 14 years, after which you want to invest your money for the next 6 years in a safer investment plan that pays only 5%. How much will you have at the end of the 20 years? Select one: a.$57,297.50 b.$103,097.70 c.$7,589.40 d.$89,512.20

You have $13,900, you decided to invest it in an investment plan that will pay you 13% interest for the next 14 years, after which you want to invest your money for the next 6 years in a safer investment plan that pays only 5%. How much will you have at the end of the 20 years? Select one: a.$57,297.50 b.$103,097.70 c.$7,589.40 d.$89,512.20

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 22P

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