Question

14)A man deposits ​$18 comma 000 at the beginning of each year for 10 years in an account paying 6​% compounded annually. He then puts the total amount on deposit in another account paying 9​% compounded semiannually for another 9 years. Find the final amount on deposit after the entire 19​-year period. He will have a final amount of ​$ after the entire 19​-year period .  

Answer 1

Amount Deposited	18000
Period	10	years
Rate	6%
Future value of deposit = FV(6%,10,-18000,0,1)	$251,489.57
Future value of deposit = $251,589.57 x (1+ 9%/2) ^(9 x 2)	$555,409.37
Final Amount after 19 years =	$555,409.37

Amount Deposited Period Rate Future value of deposit = FV(6%,10,-18000,0,1) Future value of deposit = $251,589.57 x (1+ 9%/2) ^(9 x 2) Final Amount after 19 years = 18000 10 years 0.06 =FV(B12,B11,-B10,0,1) =B13 (1+4.5%)^18 =B14