Thomas Taylor is planning to invest $29,000 today in a mutual fund that will provide a return of 8 percent each year. What will be the value of the investment in 10 years? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)

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Given an initial investment of 29000 an interest rate of 8 008 and a time horizon of 10 years ... View the full answer