Amy invests 1000 at an effective annual rate of 14% for 10 years. Interestis payable annually...

Amy invests 1000 at an effective annual rate of 14% for 10 years. Interestis payable annually and is reinvested at an annual effective rate ofi.At theend of 10 years the accumulated interest is 2341.08.Bob invests 150 at the end of each year for 20 years at an annual effective rateof 15%. Interest is payable annually and is reinvested at an annual effectiverate ofi.Find Bob’s accumulated interest at the end of 20 years.

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Bob’s accumulated interest at the end of 20 years

9,041.49

Calculate the Reinvested rate

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ekkarill92 answered 1 year ago

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Amy invests 1000 at an effective annual rate of 14% for 10 years. Interestis payable annually...

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