Question: 1. $3000 is invested each year at 4% compounded annually for 10 years. At the end of this time, principal and interest are invested at

1. $3000 is invested each year at 4% compounded annually for 10 years. At the end of this time, principal and interest are invested at 6% compounded annually for an additional 10 years. How much will have accumulated at the end of the 20 years?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Sliced Bread plc is a divisionalized company. Among its divisions are Grain and Bakery. Grain's operations include granaries, milling and dealings in the grain markets; Bakery operates a number of...

Determine the amount of the following investments: Principal amount of $2500at an interest rate of 4% compounded annually for 10 years. Principal amount of $4000at an interest rate of 2% compounded...

Find the value of the annuity and the interest. Round to the nearest dollar. 1) Periodic Deposit: $100 at the end of each year Rate: 4% compounded annually Time: 13 years 2) Periodic Deposit: $900 at...

Find the amount to which $800 will grow under each of these conditions: 4% compounded annually for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 4%...

TIME VALUE OF MONEY Assume you put $5,000 into an investment fund today that will pay 4% compounded annually for 10 years. What will the fund be worth in 10 years? How much of this is interest? It is...

Find the amount to which $800 will grow under each of these conditions: 4% compounded annually for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 4%...

Find the value of the annuity and the interest. Round to the nearest dollar. X Periodic Deposit: $100 at the end of each year Rate: 4% compounded annually Time: 9 years HINT: Example in handout on...

Score: 0.33 of 1 pt 7 of 15 (6 complete) HW 10.5.11 a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from...

Il. Find the future vaive of the indicated principal. 1.) P30,000 at 8% compounded annually for 10 years. 2.) P35,000 at 6% compounded semi-annually for 12 years. 3.) P51,000 at 8.5% compounded...

QUESTION 1 Determine the accumulated value of $4100.00 compounded semi-annually at 8% p.a. for seven years. $7089.80 $7099.87 $8081 $7920 1 points QUESTION 2 Find the present value if amount at...

This is real life math grade 11. Please help fill in the questions in the pict below. 6. $700 was invested at 7% interest and compounded annually for 4 years. K 15 a) Complete the table to determine...

Distinguish between the mathematical/clerical error program and the unallowable items program.

CREATE TABLE employee (name VARCHAR, id INTEGER) What type of statement is the above query? a) DML b) DDL c) View d) Integrity constraint

Design a Moore machine which asserts its output Z ( i . e . , Z = 1 ) , if it receives a string of 1 0 1 or 0 1 0 ( input X ) . The last 1 can be the first 1 . Similarly, the last 0 can be the middle...

last two options for the multiple choice are : performance management development A construction equipment manufacturer, Roswell Corporation, is focusing on becoming a leader in sustainability in...

Flexibility. Organizations are introducing new working patterns and abandoning some traditional ones, influenced by economic transformation and savings in labour costs; however, part-time working has...

Recruitment and redundancy. Skills shortages as a result of loss of employees and lower wages in the state- and former state-owned organizations has led to targeting of school leavers, the long-term...

Underestimation of the complexities of a free market, with a tendency to rely on imported solutions. Western managers, they recommend, should encourage a blend of HRM involving both free market...