Manuel deposits $10,000 for 12 yr in an account paying 3% interest compounded annually. He then puts
Question:
Manuel deposits $10,000 for 12 yr in an account paying 3% interest compounded annually. He then puts this total amount on deposit in another account paying 4% interest compounded semiannually for another 9 yr. Find the total amount on deposit after the entire 21-yr period.
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First substitute P 10000 r 003 t 12 and n 1 into the formul...View the full answer
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Related Book For
College Algebra
ISBN: 978-0134697024
12th edition
Authors: Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
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