(Answered) You deposit 6000 into a retirement account where interest

Management Studies

You deposit $6,000 into a retirement account where interest is compounded annually. For 4 years you receive 3% interest and for the next 5 years you receive 5% interest.

A. What is the balance after the 9 years? Give two decimal digits of precision.

B. What fixed interest rate would have given you the same balance after 9 years? Give two decimal digits of precision.

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