Answer:
Amount left= 4,327.9 - 1,800
Step-by-step explanation:
Giving the following information:
Initial deposit (PV)= $3,500
Interest rate (i)= 11.2%
Number of periods (n)= 2 years
Withdrawal= $1,800
First, we need to calculate the future value of the investment at the end of 2 years:
FV= PV*(1 + i)^n
FV= 3,500*(1.112^2)
FV= $4,327.9
Now, after the withdrawal:
Amount left= 4,327.9 - 1,800
