document.write( "Question 935658: A person deposited $1000 at the end of each year into a retirement savings plan for the last 10 years. Her deposits earned interest at 8% for the first 3 years; at 10.25% for the next 4 years; and at 9% for the last 3 years. (a) what is the accumulated value of her retirement plan? (b) What is the total interest earned for the 10 years? \n" ); document.write( "
Algebra.Com's Answer #569025 by ptfile(81)\"\" \"About 
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document.write( "Let P = Principal\r\n" );
document.write( "    R = Interest rate per annum\r\n" );
document.write( "    T = Duration of the loan\r\n" );
document.write( "    I = Interest\r\n" );
document.write( "   FV = Future Value\r\n" );
document.write( "   PV = Present Value\r\n" );
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document.write( "a) \r\n" );
document.write( "First three years\r\n" );
document.write( "FV = PV (1 + r)^t\r\n" );
document.write( "FV = 1000 (1 + .08)^3\r\n" );
document.write( "FV = 1259.71\r\n" );
document.write( "\r\n" );
document.write( "Next four years\r\n" );
document.write( "FV = PV (1 + r)^t\r\n" );
document.write( "FV = 1259.71 (1 + .1025)^4\r\n" );
document.write( "FV = 1861.17\r\n" );
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document.write( "Last three years\r\n" );
document.write( "FV = PV (1 + r)^t\r\n" );
document.write( "FV = 1861.17 (1 + .09)^3\r\n" );
document.write( "FV = 2410.27\r\n" );
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document.write( "b)\r\n" );
document.write( "2410.27 - 1000 = 1410.27\r\n" );
document.write( "

\n" ); document.write( "The amount she accumulated in 10 years is $2410.27 and the total interest she earned in 10 years is $1410.27. \n" ); document.write( "
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