Question
At Caliope Financial, you may invest in either Account A or Account B. Account A offers simple interest at 9% annually, and Account B offers
At Caliope Financial, you may invest in either Account A or Account B. Account A offers simple interest at 9% annually, and Account B offers compound interest at 7.2% annually. The interest rates are relative to the time of initial investment at the bank. You are allowed to transfer your money between these accounts at any time. To maximize your investment, you should first invest in Account A and then move your money to Account B at some time . If you invest $26500 initially, what is the maximum amount of money you could get from investing in these accounts for 10 years?
(Answer maximum return in $)
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