Both you and your older brother would like to have $27,500 in 12 in years. Because...

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Both you and your older brother would like to have $27,500 in 12 in years. Because of your success in this class, you feel that you are a more savvy investor than your brother and will be able to earn an annual return of 11.3 percent compared to your brother's 10.2 percent. How much less than your brother will you have to deposit today? O $1,070.34 O$1,204.13 O $866.97 $963.30 O $2,411.75 Both you and your older brother would like to have $27,500 in 12 in years. Because of your success in this class, you feel that you are a more savvy investor than your brother and will be able to earn an annual return of 11.3 percent compared to your brother's 10.2 percent. How much less than your brother will you have to deposit today? O $1,070.34 O$1,204.13 O $866.97 $963.30 O $2,411.75

Answer rating: 100% (QA)

Solution To calculate the amount less that you need to deposit today we can use the formula for pres... View the full answer