Invest a single amount of $13,500 over 7 years at 11 percent. At the end of 7 years, you take the income and invest it for 16 years at 19 percent. How much will you have after 23 years? Use Appendix A for an approximate answer, but calculate your final answer using the formula and financial calculator methods.

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Future value FV is a financial concept that assigns a value to an asset b... View the full answer