Heather contributed $1500 at the end of each year for 12 years into a savings account. Interest
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Question:
Heather contributed $1500 at the end of each year for 12 years into a savings account. Interest earned on the savings was 4.5% compounded annually for the first eight years, then increased to 5.5% compounded annually. How much was the balance in the account five years after her last contribution?
Related Book For
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
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