Question

Ten
years ago, Hailey invested $1,500 and locked in an annual interest
rate of 9 percent for 30 years (ending 20 years from now). Aidan
can make a 20 year investment today and lock in an interest rate of
10 percent. How much money should he invest now in order to have
the same amount of money in 20 years as Hailey

Answer #1

Hello Sir/ Mam

**YOUR REQUIRED
ANSWER = $2,958.23**

**Hailey's
Investment**

Present Value = $1,500

Period = 30 years

Rate of return = 9%

**Aidan's
Investment**

Future Value = $19,901.52

Period = 20 years

Rate of return = 10%

I hope this solves your doubt.

Do give a thumbs up if you find this helpful.

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