Calculate the future value of Mohamed’s investment after the first 10 years at 6% interest.
Mohamed is planning for his retirement and wants to invest in a savings account that offers a fixed annual interest rate of 6%, compounded annually. He decides to deposit $15,000 today and leave it untouched for 10 years to maximize his savings. However, after 10 years, he decides to leave the investment for another 5 … Read more