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You deposit $3000 in an account that earns 7% interest compounded semiannually . After 10 years, the interest rate changes to 7.25% compounded quarterly. What will be the value of the account after 16
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You deposit $3000 in an account that earns 7% interest compounded semiannually . After 10 years, the interest rate changes to 7.25% compounded quarterly. What will be the value of the account after 16 total years?

User Vitalii Diravka
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Answer:

see the images below

You deposit $3000 in an account that earns 7% interest compounded semiannually . After-example-1
You deposit $3000 in an account that earns 7% interest compounded semiannually . After-example-2
User Parxier
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