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26. On May 1, 1950, M deposited $100 in a savings account which pays 3% compounded semiannually and continued to make similar deposits every six

26. On May 1, 1950, M deposited $100 in a savings account which pays 3% compounded semiannually and continued to make similar deposits every six months thereafter. After May 1, 1962, the bank paid 4% compounded semiannually. How much will be to his credit just after the deposit on November 1, 1970? Hint. 100.01s (1.02)+100 00

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