Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. find the final amount in the following retirement�

Find the final amount in the following retirement​ account, in which the rate of return on...

60.1K

Verified Solution

Question

Finance

Find the final amount in the following retirement​ account, inwhich the rate of return on the account and the regularcontribution change over time.

​$614 per month invested at 4​%, compounded​ monthly, for4​years; then $716per month invested at 7%,

compounded​ monthly, for 4 years. What is the amount in theaccount after 8

​years?

Answer & Explanation Solved by verified expert
3.8 Ratings (344 Votes)
Assumption Investment is made at    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

The perimeter of a rhombus is 560 meters and one of its diagonals has a...

Physics
1.2K views

State the Three Laws of Thermodynamics (2nd Law has multiple parts).

Biology
1.2K views

11 You are car A and the traffic in front of you is stopped You...

Physics
1.2K views

6 A circuit is constructed with a 1000 resistor a 1 00 x 10 F...

Physics
1.2K views

12 13 14 For question numbers 11 12 13 and 14 two statements are given...

Geometry
1.2K views

to the best of your ability Please 1 What is an equation of the line...

Basic Math
1.2K views

Which statement about weight loss is NOT true A Fad diets are not a healthy...

Accounting
1.2K views

From the following particulars of Purple New Co., (a) The bank statement balance is $4,000....

Accounting
1.2K views

At December 31, 2020, Kingbird Corporation has the following account balances: Show how the above...

Accounting
1.2K views

You are an entry-level worker in the audit department of the internal revenue service and...

Accounting
1.2K views

The Coca-Cola Company uses an EVA approach to performance measure which it calls economic profit....

Accounting
1.2K views

Resolving Outstanding Financial Obligations One of the most important things for business owners to consider...