Question

You deposit 6000 in an account that pays 5.25 interest compounded semiannually. after 10 years, the interest rate is increased to 5.4% compounded quarterly. what will be the value of the account after 18 years. (round to the nearest dollar)

Answer 1

6000(1+5.25%/2)^20=10,074.29(1+5.4%/4)^32=??? Hope it helps