Homework Question need help with

Accounting
Tutor: None Selected Time limit: 1 Day

Jackie plans to deposit $3,500 into her savings account for each of the next 5 years, and then $2,000 per year or 5 years after that (All at year end). She anticipates interest rates to be 6% for the next 3 years and then 9% thereafter. How much will she have in the account after the 10 years?

Jun 23rd, 2015

Dear your question is under-progress, it would be available to you as soon as it completes within next few minutes.


Jun 23rd, 2015

Value in account after 10 years = 3500(1+0.06)^3 + 3500(1+0.09)^2 + 2000(1+0.09)^5

                                                   = 4168.56 + 4158.35 + 3077.25   

                                                    = $11404.16 

Jun 23rd, 2015

This answer is not one of the mutiple choice answers given?

Jun 23rd, 2015

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Jun 23rd, 2015
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Jun 23rd, 2015
May 29th, 2017
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