On March 1, 2016, Yves decided to save for a new truck. He deposited $500 at the
Question:
On March 1, 2016, Yves decided to save for a new truck. He deposited $500 at the end of every three months in a bank account earning interest at 5% compounded quarterly. He made his first deposit on June 1, 2016. On June 1, 2018, Yves decided that he needed the money to go to college, so on September 1, 2018, he stopped making deposits and started withdrawing $300 at the end of each quarter until December 1, 2019. How much is left in his account after the last withdrawal if his bank account interest rate changed to 6.5% compounded quarterly on March 1, 2019?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
Accumulated value of the deposits of 50000 on December 1 2019 50000946337410379711049547 51546...View the full answer
Answered By
WAHIDUL HAQUE
hello,
I'm a professional academic solution provider working as a freelance academic solution provider since 7 years. I have completed numerous projects. Help lots of students to get good marks in their exams and quizzes. I can provide any type of academic help to your homework, classwork etc, if you are a student of Accounting, Finance, Economics, Statistics. I believe in satisfying client by my work quality, rather than making one-time profit. I charge reasonable so that we make good long term relationship. why will you choose me? i am an extremely passionate, boldly honest, ethically driven and pro-active contractor that holds each of my clients in high regards throughout all my business relations. in addition, I'll always make sure that I'm giving my 100% better in every work that will be entrusted to me to be able to produce an outcome that will meet my client's standards. so if you are a student that is now reading my profile and considering me for your academic help. please feel free to look through my working history, feedback and contact me if you see or read something that interests you. I appreciate your time and consideration.
regards