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Posted on Jun 05, 2024

You invest $20,000 in a fund that earns simple interest at r = 5% for 2 years, followed by simple interest at r=7% for 3

You invest $20,000 in a fund that earns simple interest at r = 5% for 2 years, followed by simple interest at r=7% for 3 years and simple interest at r=8% for the last year. The interest is calculated and deposited to the fund at the end of each period when the interest rate is changed. How much interest will you earn in 6 years?

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