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Floyd wants to invest the $15,000 he received from his grandfather's estate. He wants to...

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Floyd wants to invest the $15,000 he received from his grandfather's estate. He wants to use the money to finance his education when he pursues his doctorate in five years. What amount will he have in five years if he earns a 9 percent return? If he receives a 10 percent return? A 12 percent return? All rates of return are compounded monthly. If Floyd earns a 9 percent return, in five years he will have $. (Round intermediate calculations to eight decimal places. Round your answer to the nearest cent.) 9

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