# math

You deposit ​\$2000

in an account that pays 7
​%
interest compounded semiannually. After 2

​years, the interest rate is increased to 7.32
​%
compounded quarterly. What will be the value of the account after a total of 4

​years?

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2. 👎
3. 👁
1. amount after first 2 years = 2000(1.035)^4
then for the next 2 years we have i = .0732/4 = .0183
and n = 8 , number of quarters in 2 years

final amount = 2000(1.035)^4 * (1.0183)^8
= .....

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2. 👎
2. You deposit2000 ​\$ in an account that pays6 ​% interest compounded semiannually. After ​years, the interest rate is increased to6.84 ​% compounded quarterly. What will be the value of the account after a total of ​2years?

1. 👍
2. 👎

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