Roger Smith opened a new savings account. Hedeposited $35,000 at 6% compounded semiannually. Atthe start of the fourth year, Roger deposits an additional$40,000 that is also compounded semiannually at 6%At the end of 6 years, what is the balance in RogerSmith's account?

To calculate the net amount under the given conditions

Answered: Roger Smith opened a new savings…

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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Roger Smith opened a new savings account. He deposited $35,000 at 6% compounded semiannually. At the start of the fourth year, Roger deposits an additional $40,000 that is also compounded semiannually at 6% At the end of 6 years, what is the balance in Roger Smith's account?