math

posted by .

Jacob Fonda deposited $25,000 in a savings account at 10%
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 -

    At 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

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Math

    Lee Holmes deposited $16,600 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $41,600 at 9% interest compounded semiannually. At the end of year 6, what is the …
  2. Math

    Lee Holmes deposited $15,000 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $40,000 at 9% intrest compounded semiannually. At the end of 6 years, what is the …
  3. MATH HOMEWORK HELP PLEASE ANSWER

    Lee Holmes deposited $15,000 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $40,000 at 9% intrest compounded semiannually. At the end of 6 years, what is the …
  4. Business Math

    Shelley Katz deposited $30,000 in a savings account at 5% interest compounded semiannually. At the beginning of year 4, Shelley deposits an additional $80,000 at 5% interest compounded semiannually. At the end of 6 years, what is the …
  5. math

    Jacob Fonda deposited $25,000 in a savings account at 10% 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 …
  6. Business Math

    Lee Holmes deposited $ 15,000 in a new savings account at 9% interest compounded semiannually, At the beginning of year 4, Lee deposites an additional $40000 at 9% interest compounded semiannually. At the end of the 6 years what is …
  7. Business Math

    1. Lee Holmes deposited $16,700 in a new savings account at 6% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $41,700 at 6% interest compounded semiannually. At the end of year 6, what is the …
  8. Business Math

    Lisa Richter deposited $5,000 at 4% compounded semiannually for three years. At the beginning of the fourth year, Lisa deposited $2,500. What would her balance be at the end of five years assuming she is still earning 4% compounded …
  9. math

    A depositor opens a new savings account with $ 8000 at 8 % compounded semiannually. At the beginning of year 3​, an additional ​$6000 is deposited. At the end of four ​years, what is the balance in the​ account?
  10. algebra

    Jacob deposits $60 into an investment account with an interest rate of 4%, compounded annually. The equation, y = 60(1 + 0.04)x, can be used to determine the number of years, x, it takes for Jacob's balance to reach a certain amount …

More Similar Questions