Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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A man deposits $18,000 at the beginning of each year for 8 years in an account paying 6% compounded annually. He
then puts the total amount on deposit in another account paying 7% compounded semiannually for another 7 years.
Find the final amount on deposit after the entire 15-year period.
after the entire 15-year period.
He will have a final amount of $
(Simplify your answer. Round to the nearest cent as needed.)
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Transcribed Image Text:A man deposits $18,000 at the beginning of each year for 8 years in an account paying 6% compounded annually. He then puts the total amount on deposit in another account paying 7% compounded semiannually for another 7 years. Find the final amount on deposit after the entire 15-year period. after the entire 15-year period. He will have a final amount of $ (Simplify your answer. Round to the nearest cent as needed.)
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