Question: Time value Personal Finance Problem You can deposit $5,000 into an account paying 11% annual interest either today or exactly 10 years from today. How much better off will you be at the end of 30 years if you decide to make the initial deposit today rather than 10 years from today?
The future value at the end of 30 years if you deposit $5,000 at 11% today is $ ____. (Round to the nearest dollar.)
The future value at the end of 30 years if you deposit $5,000 at 11% 10 years from today is $_____. (Round to the nearest dollar.)
If you invest the $5,000 now instead of waiting for 10 years to make the investment, you would be better off by $______. (Round to the nearest dollar.)