Finance

posted by .

You deposit $1000 for 5 years at 4% annual interest. In 5 years, you add $10000 to your account, but the rate on your account changes to 8% annual interest (for existing balance and new deposit). You leave the account untouched for an additional 15 years. How much do you accumulate?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. finance

    You deposit 172 dollars in an account every year for 9 years that earns 9 percent annual interest. How much money is in your account 9 years from now?
  2. math

    a bank account earns 7% annual interest compounded continuously. you deposit $10,000 in the account, and withdraw money continuously from the account at a rate of $1000 per year. a. write the differential equation for the balance, …
  3. Finance

    john deposited 3000 into an account with 5% annual interest rate compounde quarterly at the beginning of 2011. the bank guarantees that 5% annual interest rate for the next 10 years if john deposits 3000 every two years. assume that …
  4. Alg2

    Help....Help... Suppose you deposit a principal amount of p dollars in a bank account that pays compound interest. If the annual interest rate r (expressed as a decimal) and the bank makes interest payments n times every year, the …
  5. Alg 2

    Suppose you deposit a principal amount of p dollars in a bank account that pays compound interest. If the annual interest rate r (expressed as a decimal) and the bank makes interest payments n times every year, the amount of money …
  6. Calculus

    A deposit of $1000 is made at the beginning of each month in an account at an annual interest rate of 3% compounded monthly. The balance in the account after n months is An = 1,000(401)(1.0025^n - 1). (a) Compute the first six terms …
  7. math

    Suppose that you deposit $1735.50 in a savings account that pays 9.25% annual interest with interest credited to the account at the end of each year. Assuming no withdrawals are made, find the balance in the account after 4 years
  8. Math

    If you deposit P dollars into a bank account paying an annual interest rate r, with n interest payments each year, the amount A you would have after t years is A=P(1+r/n)^nt. Kevin places $100 in a savings account earning 6% annual …
  9. Algebra

    Suppose that you deposit $1735.50 in a savings account that pays 9.25% annual interest with interest created to the account at the end of each year. Assuming no withdrawals are made, find the balance in the account after 4 years
  10. maths

    Compound Interest: You deposit $1000 in an account with an annual interest rate of r (in decimal form) compounded monthly. At the end of 5 years, the balance is A = 1000(1 + (r/12)) ^60

More Similar Questions