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Joshua Kelly estimates that taking some classes would result in earning $8,800 more a year for...

Joshua Kelly estimates that taking some classes would result in earning $8,800 more a year for the next 30 years. Based on an annual interest rate of 10 percent, calculate the future value of these classes.

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Answer #1

Yearly earnings from classes for next 30 years = $8800

Calculating the Future Value of these classes;-

Where, C= Periodic earnings =$8,800

r = Periodic Interest rate = 10%

n= no of periods = 30

Future Value = $1,447,547.40

So, the future value of these classes is $1447,547.40

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