Question: Solution Future Value = Present value * (1 + Interest rate)n Final balance iat the end of 10 years PV $3,000 % 1.26% n 10

Solution Future Value = Present value * (1 + Interest rate)n Final balance iat the end of 10 years PV $3,000 % 1.26% n 10 FV $3,400.17 Final balance iat the end of 8 years PV $3,400.17 % 0.70% n 8 FV $3,595.31 Final balance at the end of 18 years $3,595.31

Solution Future Value = Present value * (1 + Interest rate)n Final balance iat the end of 10 years PV $3.000 1.26% 10 FV $3,400.17 Final balance iat the end of 8 years PV $3,400.17 % 0.70% 8 FV $3.595.31 Final balance at the end of 18 years $3,595.31

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