Rahel left a $5000 investment for 3 years in an account that paid 4% per year, compounded semi-annually. She then moved the entire accumulated amount into a second investment plan that paid 6% per year, compounded monthly, for 5 years. At the end of this time, what was Rahel’s investment worth?
Rahel left a $5000 investment for 3 years in an account that paid 4% per year, compounded semi-annually. She then moved the entire accumulated amount into a second investment plan that paid 6% per year, compounded monthly, for 5 years. At the end of this time, what was Rahel’s investment worth?
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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Rahel left a $5000 investment for 3 years in an account that paid 4% per year, compounded semi-annually. She then moved the entire accumulated amount into a second investment plan that paid 6% per year, compounded monthly, for 5 years. At the end of this time, what was Rahel’s investment worth?
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