You will deposit 11,678 at 10% compound interest for 9 years, and then move the amount you would receive to an investment account at 14 % simple interest for another 3 years. How much money would you have at the end of the entire period?

Economics Today and Tomorrow, Student Edition
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ISBN:9780078747663
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Chapter6: Saving And Investing
Section6.1: Why Save?
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QUESTION 4
You will deposit 11,678 at 10% compound interest for 9 years, and then move the amount you would receive to an investment account at 14
% simple interest for another 3 years. How much money would you have at the end of the entire period?
Transcribed Image Text:QUESTION 4 You will deposit 11,678 at 10% compound interest for 9 years, and then move the amount you would receive to an investment account at 14 % simple interest for another 3 years. How much money would you have at the end of the entire period?
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