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Daisy sets up an ordinary annuity and schedules a regular monthly deposit of $550. The account pays 3% compounded monthly. After 15 and a half
Daisy sets up an ordinary annuity and schedules a regular monthly deposit of $550. The account pays 3% compounded monthly. After 15 and a half years, Daisy decides to reorganize her financial plan. She closes the account and moves the entire balance to a new bank. This new account pays 3.9% compounded quarterly and she also makes a $2350 deposit at the end of each quarter for the next 9 years until her retirement. (a) The total amount of money Daisy moved from the first account after 15 and a half years was $ (round to the nearest whole dollar). (b) How much interest did Daisy earn on the money she moved to the new bank during the 9 years before her retirement? $ (round to the nearest whole dollar). (c) During the entire time, the total amount that Daisy deposited into the two accounts combined was $ . At her retirement, she had a total of $ (round to the nearest whole dollar)
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