You are going to deposit $18,000 today. You will earn an annual rate of 2.9 percent for 9 years, and then earn an annual rate of 2.3 percent for 12 years. How much will you have in your account in 21 years

$30,586

Explanation:

Using an annuity formula, we will compound at 2.9% for 9 years and the money at the end of year 9 will be used to compound at 2.3% for 12 years.

So compounding formula is:

Future Value = Present Value * (1+r)^n

For compounding at 2.9% for 9 years,

Future Value = $18,000 * (1+2.9%)^9 = $23,281

And now using the money at the end of year 9 to compound at 2.3% for 12 years:

Future Value = $23,281 * (1+2.3%)^9 = $30,586

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"