Question 608492
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Hi, re TY, see Note:
Note:  In General: {{{A = P(1+r/m)^mt}}}
A = Accumulated Amount
P= principal = $353 , $655
r= annual rate = .05, .06
m= periods per year = 12 , 12
t= years = 4 , 4
{{{A = 353(1+.05/12)^48 + 655(1+.06/12)^48 }}}
Calculator makes short work of the answer.
{{{highlight(Note)}}}:The sum listed(for the 1st 4 yrs + 2nd 4 years) gives the Amount after 8 years