FI320 315 – You are engaged to be married in exactly one year.

FI320 315 – You are engaged to be married in exactly one year.

Subject: Business    / Finance
Question
You are engaged to be married in exactly one year. Your future in-laws have agreed to help pay for the cost of the wedding by matching the amount you have saved up at the time of the wedding. Currently, you have $5,000 to invest and can earn 8.4% compounded monthly on your invested funds. In total, what can you expect to spend on the wedding? Round your answer to the nearest dollar.