You are going to deposit $22,000 today. You will earn an annual rate of 4.5 percent for 13 years, and then earn an annual rate of 3.9 percent for 16 years. How much will you have in your account in 29 years?

The correct answer is $71,908.99.

Explanation:

According to the scenario, the given data are as follows:

PV =$22,000

For Time period (t1) = 13 years

Rate of interest (r1) = 4.5%

For time period (t2) = 16 years

Rate of interest (r2) = 3.9%

So, we can calculate the future value by using following formula:

FV = PV × (1+r1)^t1 × ( 1 + r2)^t2

So, by putting in the formula, we have

FV = ($22,000 × (1+4.5%)^13) × (1+3.9%)^16

= $71,908.99

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

i would say cowboy bebop