At the end of each year for 20 years i deposit 1000 dollars, Ask an Expert

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At the end of each year, for 20 years, I deposit $1000 dollars into an account. The effective annual interest rate for this account (called account 1) is 5%. At the end of each year, i take the interest I am paid from this account and invest it into another account (called account 2) with an annual interest rate of 3%. After 20 years, what is the combined value of accounts 1 and 2?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91538789

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