Question
. Joe and Sue invested $2000 at Bank America in 1995, at 6% compounded quarterly. In the year 2000 they moved to another city and
. Joe and Sue invested $2000 at Bank America in 1995, at 6% compounded quarterly. In the year 2000 they moved to another city and took the total money from their first investment added $500 and invested it at Bank Bravo, at 7% compounded quarterly.
- (2 points) What is the value of this account now in 2004? Show your work
- (1 point) What is the total amount of compound interest earned?
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
14th edition
978-1305887725, 1305887727, 1305636619, 978-1305636613
