10 years ago raj deposited $5000 into an investment account with intrest compound quarterly. for the first 5 years the intrest rate was 6%

Question

and for the next 5 years the interest rate changed to 4.5% how much money is in the account now

Answer 1

I will assume that the second rate was also compounded quarterly
quarterly rate for first 5 years = .06/4 = .015
quarterly rate for last 5 years = .045/4 = .01125

amount after first 5 years = 5000(1.015)^20
and after the last 5 years
= 5000(1.015)^20 (1.01125)^20
= $8422.90