Jennifer Nelson deposited $500 into a savings account earning 3%, compounded semiannually. After 5 years, she took the money and moved it into an account earning 3.8%, compounded quarterly. Four years later she withdrew all the money. How much money was in the account after 9 years?
Jennifer Nelson deposited $500 into a savings account earning 3%, compounded semiannually. After 5 years, she took the money and moved it into an account earning 3.8%, compounded quarterly. Four years later she withdrew all the money. How much money was in the account after 9 years?
Chapter7: Losses—deductions And Limitations
Section: Chapter Questions
Problem 71IIP
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Jennifer Nelson deposited $500 into a savings account earning 3%, compounded semiannually. After 5 years, she took the money and moved it into an account earning 3.8%, compounded quarterly. Four years later she withdrew all the money. How much money was in the account after 9 years?
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