November 28, 2015

Homework Help: math

Posted by Mae on Tuesday, January 13, 2009 at 7:32pm.

Sally invests some money at 6%/a compounded annually. After 5 years, she takes the principal and interest and reinvests it all at a 7.2%/a compounded quarterly for 6 more years. At the end of this time, her investment is worth 14, much did sally originally invest?

I tried solving this and got 7276.81. am i correct?

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