Vijay K Ms. Burke invested $30,000 in two accounts, one yielding 6% interest and the other yielding 9%. If she received a total of$2,100 in interest at the end of the year, how much did she invest in each account? The amount invested at 6% was $....

The objective of the question is to find out how much money Ms. Burke invested in each of the two…

Answered: K Ms. Burke invested $30,000 in two…

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 10PROB

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Alexandra had a balance of $2,000 in her RRSP. In addition to this, she invested $300 at the end of every 3 months for 6 years. Her RRSP earned 4.00% compounded quarterly for the first 4 years and 7.00% compounded quarterly for the rest of the period. a. What is the accumulated value of the balance of $2,000 at the end of the time period? Round to the nearest cent b. What is the accumulated value of the annuity at the end of the first 4 years? Round to the nearest cent c. What is the future value of the accumulated value from (b) at the end of the 6 years? Round to the nearest cent d. What is the accumulated value of the $300.00 annuity for the next 2 years at 7.00% compounded quarterly? Round to the nearest cent e. How much did she have in the RRSP at the end of the time period? Round to the nearest cent f. What were her total earnings? Round to the nearest cent
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K Ms. Burke invested $30,000 in two accounts, one yielding 6% interest and the other yielding 9%. If she received a total of $2,100 in interest at the end of the year, how much did she invest in each account? The amount invested at 6% was $....