You invest $10,000 at 6% semi-annually for 30 months. You roll the entire accumulated amount into a second investment that is earning 3% quarterly for 15 months. [A] what is the future amount of the two consecutive investments? [B] How much interest has been earned?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
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You invest $10,000 at 6% semi-annually for 30 months. You roll the entire
accumulated amount into a second investment that is earning 3% quarterly for 15
months. [A] what is the future amount of the two consecutive investments? [B]
How much interest has been earned?
Transcribed Image Text:You invest $10,000 at 6% semi-annually for 30 months. You roll the entire accumulated amount into a second investment that is earning 3% quarterly for 15 months. [A] what is the future amount of the two consecutive investments? [B] How much interest has been earned?
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