Homework Answers
The amount of money that he should invest now is computed as follows:
Future value of Hailey amount is computed as follows:
= $ 1,500 ( 1.09 )30
= $ 19,901.52 Approximately
Aidan should invest the present value of the above amount computed:
= $ 19,901.52 / 1.1020
= $ 2,958.23 Approximately
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