Asked by Laurie
A depositor opens a new savings account with $ 8000 at 8 % compounded semiannually. At the beginning of year 3, an additional $6000 is deposited. At the end of four years, what is the balance in the account?
Answers
Answered by
Reiny
amount
= 8000(1.04)^8 + 6000(1.04)^2
= ...
= 8000(1.04)^8 + 6000(1.04)^2
= ...
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