Please view the following video before answering this question. Click here to watch the video Maria deposits $2,700 in a savings account that pays interest at an annual compound rate of 3.7%. Two years after the deposit, the interest rate increases to 4.7% compounded annually. A second deposit of $3,800 is made immediately after the interest rate changes to 4.7%. How much will be in the fund 7 years after the second deposit? $
Please view the following video before answering this question. Click here to watch the video Maria deposits $2,700 in a savings account that pays interest at an annual compound rate of 3.7%. Two years after the deposit, the interest rate increases to 4.7% compounded annually. A second deposit of $3,800 is made immediately after the interest rate changes to 4.7%. How much will be in the fund 7 years after the second deposit? $
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:Please view the following video before answering this question. Click here to watch the video
Maria deposits $2,700 in a savings account that pays interest at an annual compound rate of 3.7%. Two years after the deposit, the
interest rate increases to 4.7% compounded annually. A second deposit of $3,800 is made immediately after the interest rate changes
to 4.7%. How much will be in the fund 7 years after the second deposit?
$
Round your final answer to 2 decimal places, e.g. 52.75. The cell tolerance is ±0.03
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