Question
Alex invests $12,000 at the end of each year with Win Bank. Win Bank pays an annual (11) effective interest rate of 4%. At the
Alex invests $12,000 at the end of each year with Win Bank. Win Bank pays an annual (11) effective interest rate of 4%. At the end of each year, Alex withdraws the interest earned from Win Bank and reinvests it in the Triple Fund which pays an annual effective interest rate of 8.5% . Determine the total amount that Alex has at the end of 15 years. PLEASE NO EXCEL !! ONLY FORMULAS PLEASE
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Personal Finance A Practical Approach
Authors: Jane King, Mary Carey
1st Edition
0199668833, 9780199668830
