Problemon july 1 2010 bill invested p into a fund which, Ask an Expert

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Problem:

On July 1, 2010, Bill invested P into a fund which accumulates at an interest rate of 7% compounded monthly. On July 1, 2012, Judy invested 100 in a fund with a discount rate of 9% compounded quarterly. On July 1, 2010, the sum of the present value sof the two funds is 120.

Required:

Question: Calculate the total combined amount that will be in the two funds on July 1, 2015.

Note: Please show how you came up with the solution.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91163243

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