Q5) Selima deposits $5000 ( t = 0 years) in an account paying r(2) = 3.00%.At the

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Selima deposits $5000 ( t = 0 years) in an account paying r(2) = 3.00%.At the end of 4 years (t = 4 years) she adds another $9000 to her account and the interest rate changes to r(2) = X%. After another 3 years ( t = 7 years) she adds another $7000 to her account and the interest changes to r(2) = 3.00%. At the end of 11 years, she has $27567.44 in her account.

a) How much money does she have in her account at t = 4 years just before she makes her deposit?

b) How much money does she have in her account after 7 years, just after she makes her deposit?

c) What is X%?

Posted Date: May 18, 2024 01:10 PM

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Q5) Selima deposits $5000 ( t = 0 years) in an account paying r(2) = 3.00%.At the

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