Question #22023

Marta is investing $6800 at an interest rate of 7% per annum,compounded quarterly,for 2 years. Then she will invest the amount plus additional money at 6.5% per annum,compounded semi-annually,for 3 years. At the end of the second investment,she wants to have $15000. How much extra must she invest for the second investment?

Expert's answer

(6800*1,0175^8+х)*1,0325^6=15000

6800-first investment

first participants-amount +extra

X-extra

1,0175-quarter invest

1,0325-semiannual invest

X=4568,82-result

Previous result was incorrect, cause it stands for X not EXTRA invest, but for another standalone invest. Sorry for this mistaken

6800-first investment

first participants-amount +extra

X-extra

1,0175-quarter invest

1,0325-semiannual invest

X=4568,82-result

Previous result was incorrect, cause it stands for X not EXTRA invest, but for another standalone invest. Sorry for this mistaken

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