Ahmed deposits $4,000 in a savings account that pays 8% interest compounded monthly. Three years...
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Accounting
Ahmed deposits $4,000 in a savings account that pays 8% interest compounded monthly. Three years later, he deposits $5,000. Two years after the $5,000 deposit he makes another deposit in the amount of $7,000. Four years after the $7,000 deposit, half of the accumulated money is transferred to a fund that pays 8% interest compounded quarterly. How much money will be in each account six years after the transfer?
Please do not use excel functions
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