Billy decided to invest $12500 in his brother's bank, where the interest rate was 6.4%/a compounded...

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Billy decided to invest $12500 in his brother's bank, where the interest rate was 6.4%/a compounded quarterly. After 7.5 years, his brother warned him before fleeing the country that he would be arrested for fraud and all the money seized. Billy removed his funds and put them into another bank at an interest rate of 3.9%/a compounded weekly for three years. Unfortunately, his brother was found in Tanzania. To support his legal fees, Billy needed to withdraw $5120. The trial lasted for 15 years and the remaining money sat in the account for that period of time. Unfortunately, his efforts were unsuccessfully. However, as a result of the lawyer failing the case, Billy received half of the legal fees back. Billy then decided to move his funds to another bank with an interest rate of 8.9%/a compounded semi-annually and kept it there for 23 years. Suddenly, he receives a phone call from his brother who escaped from prison, asking for $250000 for a submarine so he can head to his underwater base in the Indian Ocean. How much money does Billy have left after purchasing the submarine? Billy decided to invest $12500 in his brother's bank, where the interest rate was 6.4%/a compounded quarterly. After 7.5 years, his brother warned him before fleeing the country that he would be arrested for fraud and all the money seized. Billy removed his funds and put them into another bank at an interest rate of 3.9%/a compounded weekly for three years. Unfortunately, his brother was found in Tanzania. To support his legal fees, Billy needed to withdraw $5120. The trial lasted for 15 years and the remaining money sat in the account for that period of time. Unfortunately, his efforts were unsuccessfully. However, as a result of the lawyer failing the case, Billy received half of the legal fees back. Billy then decided to move his funds to another bank with an interest rate of 8.9%/a compounded semi-annually and kept it there for 23 years. Suddenly, he receives a phone call from his brother who escaped from prison, asking for $250000 for a submarine so he can head to his underwater base in the Indian Ocean. How much money does Billy have left after purchasing the submarine?

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And Solution P 12500 8 64 75 Years A P1x Amount af... View the full answer