Answered

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Merle Fonda opened a new savings account. She deposited $40,000 at 10% compounded semiannually. At the start of the fourth year, Merle deposits an additional $20,000 that is also compounded semiannually at 10%. At the end of six years, the balance in Merle's account is (use the tables in the handbook):

A.

$73,604.00

B.

$53,604.00

C.

$80,406.00

D.

$98,636.72

E.

None of these

Sagot :

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