SOLUTION: 1. You save $ 25,000 at 8 percent compound annual interest for three years and then transfer it to a savings account with a compound annual interest rate of 10 percent. How much yo

Algebra ->  Finance -> SOLUTION: 1. You save $ 25,000 at 8 percent compound annual interest for three years and then transfer it to a savings account with a compound annual interest rate of 10 percent. How much yo      Log On


   



Question 1187020: 1. You save $ 25,000 at 8 percent compound annual interest for three years and then transfer it to a savings account with a compound annual interest rate of 10 percent. How much you will receive at the end of the 6th year?
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
the first is 25000(1+.08)^3=$31,492.80
then 31.492.80(1.10)^3=$41916.92.