Find the final amount in the following retirement account, in which the rate of return on the account and the regular contribution change over time. $1100 per quarter invested at 6.7%, compounded quarterly, for 10 years; then $1800 per quarter invested at 7.3%, compounded quarterly, for 16 years. Find the final amount in the account. $ (Do not round until the final answer. Then round to the nearest dollar as needed.)
Find the final amount in the following retirement account, in which the rate of return on the account and the regular contribution change over time. $1100 per quarter invested at 6.7%, compounded quarterly, for 10 years; then $1800 per quarter invested at 7.3%, compounded quarterly, for 16 years. Find the final amount in the account. $ (Do not round until the final answer. Then round to the nearest dollar as needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Find the final amount in the following retirement account, in which the rate of return on the account and
the regular contribution change over time.
$1100 per quarter invested at 6.7%, compounded quarterly, for 10 years; then $1800 per quarter
invested at 7.3%, compounded quarterly, for 16 years.
Find the final amount in the account.
(Do not round until the final answer. Then round to the nearest dollar as needed.)
SA
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