You have $16,000 you want to invest for the next 32 years. You are offered an investment plan that will pay you 8 percent per year for the next 16 years and 12 percent per year for the last 16 years.
Requirement 1:
How much will you have at the end of the 32 years? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Amount $
Requirement 2:
If the investment plan pays you 12 percent per year for the first 16 years and 8 percent per year for the next 16 years, how much will you have at the end of the 32 years? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Amount $