Math Problem Statement
You plan to invest $18,300 in 3 years in investment A, which has an expected return of 16.70 percent per year. You also plan to invest $11,000 in 6 years in investment B, which has an expected return of 7.55 percent per year. How much money do you expect to have in 12 years. Round tothe nearest dollar.
Solution
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Math Problem Analysis
Mathematical Concepts
Future Value Calculation
Compound Interest
Investment Growth
Formulas
Future Value (FV) = PV × (1 + r)^t
Theorems
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Suitable Grade Level
College Level or Advanced High School (Grades 11-12)
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