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14-02-2022
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You Save Bank has a unique account. If you deposit $9,750 today, the bank will pay you an annual interest rate of 6 percent for 3 years, 6.6 percent for 2 years, and 7.3 percent for 6 years. How much will you have in your account in 11 years

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11901781 11901781

15-02-2022

Amount in 11 years =Deposit Today*(1+Rate 1)^3*(1+Rate 2)^2*(1+rate 3)^6=9750*(1+6%)^3*(1+6.6%)^2*(1+7.3%)^6

=20138.86

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