Question: You are responsible for preparing for capital improvements that will occur 5 years from now. Your current capital improvement account balance is $254,000. You have

You are responsible for preparing for capital improvements that will occur 5 years from now. Your current capital improvement account balance is $254,000. You have two possible investments you can utilize until the capital improvements are due. The first investment offers 7 percent, and the second will pay 9 percent. How much additional money will you gain if you choose the second investment?

List all answers to two decimal places.

Future value at 7%:

Future value at 9%:

Difference:

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