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Assume that, to help build your nest-egg, you made two deposits of $100, one on January 1, 2013, and one on July 1, 2013, in a savings account that paid 10 percent compounded semiannually. On January 1, 2014, the bank increased the interest rate paid on savings accounts to an annual rate of 12 percent compounded continuously. Then you made a third S100 deposit on April 1, 2014. How much would these three deposits have added to your nest-egg on January 1, 2015?

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Financial Management, Finance

Category:- Financial Management
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