How much more would pete have

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Question - Pete's Real Estate is currently valued at $65,000. Pete feels the value of his business will increase at a rate of 10% per year, compounded semiannually for the next 5 years.

At a local fundraiser, a competitor offered Pete $70,000 for the business. If he sells, Pete plans to invest the money for 5 years at 6% compounded quarterly.

How much more would Pete have if he were to keep his business for 5 more years then he would if he were to sell & invest that money for 5 years?

Reference no: EM132184657

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