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Ben has $10 000 to invest. He invests $3000 at 4% per year, compounded semi-annually. He deposits the remaining amount in a fund that pays 6% per year, compounded quarterly. Wha…

Ben has $10 000 to invest. He invests $3000 at 4% per year, compounded semi-annually. He deposits the remaining amount in a fund that pays 6% per year, compounded quarterly. Wha…
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Ben has $10 000 to invest. He invests $3000 at 4% per year, compounded semi-annually. He deposits the remaining amount in a fund that pays 6% per year, compounded quarterly. What will be the total value of these investments if he leaves the investments for 10 years?

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User Krishna Barri
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7.9k points

1 Answer

2 votes

Answer:

$3,000(1 + .04/2)²⁰ + $7,000(1 + .06/4)⁴⁰

= $17,155.97

answered
User Evcostt
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7.6k points
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