SOLUTION: You have $10,000.00 to invest, at 5% annually and you keep the money invested for 10 years. What will this amount grow to? You will need $15,000.00 in 7 years when you want to

Algebra ->  Finance -> SOLUTION: You have $10,000.00 to invest, at 5% annually and you keep the money invested for 10 years. What will this amount grow to? You will need $15,000.00 in 7 years when you want to       Log On


   



Question 923863: You have $10,000.00 to invest, at 5% annually and you keep the money invested for 10 years. What will this amount grow to?
You will need $15,000.00 in 7 years when you want to take a world cruise. If you can earn 6% annually how much do you need to invest now, in order to have the amount needed for the cruise?
what is the amount a person would have to deposit today to be able to take out $5000.00 per year for 10 years from an account getting 8% annually?

Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
A) FV=10000(1.05)^10
B) 15000=P(1.06)^7