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July 24, 2014

July 24, 2014

Posted by **Anonymous** on Thursday, December 22, 2011 at 7:09pm.

interest compounded semiannually. At the beginning of

Year 4, Jacob deposits an additional $40,000 at 10% interest

compounded semiannually. At the end of six years, what is the balance of

Jacob’s account?

- math -
**Reiny**, Thursday, December 22, 2011 at 8:10pmAt the beginning of year 4 ---> at the end of year 3

Pick Year 6 as your "focal point" on a time graph.

Amount = 25000(1.05)^12 + 40000(1.05)^6

= 98500.23

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