Question: John invests 2000 at time 0 in a fund earning 7% convertible quarterly, but payable annually. He reinvests each interest payment in individual separate funds

John invests 2000 at time 0 in a fund earning 7%

John invests 2000 at time 0 in a fund earning 7% convertible quarterly, but payable annually. He reinvests each interest payment in individual separate funds each earning 8% convertible quarterly, but payable annually. The interest payments from the separate funds are accumulated in a side fund that guarantees an annual effective rate of 9%. Determine the total value of all funds at time 10

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