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a person deposited 5000 in a bank. the deposit was left to accumulate at 6%compounded quarterly for the first five years and at 8%compounded semi - annually for the next eight years. the compound amount at the end of 13 years is
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a person deposited 5000 in a bank. the deposit was left to accumulate ...
Calculation of Compound Interest:


Calculation for first 5 years:


P = 5000

R = 6/100

n = 4 (Quarterly)

t = 5 years

A = P(1 + R/n)^(n*t)

= 5000(1 + 0.06/4)^(4*5)

= 5000(1.015)^20

= 5000(1.349857)

= 6749.28

Calculation for next 8 years:


P = 6749.28

R = 8/100

n = 2 (Semi-annually)

t = 8 years

A = P(1 + R/n)^(n*t)

= 6749.28(1 + 0.08/2)^(2*8)

= 6749.28(1.04)^16

= 6749.28(2.348865)

= 15857.29

Compound Amount at the end of 13 years:


Therefore, the compound amount at the end of 13 years is the sum of the amount accumulated in the first 5 years and the amount accumulated in the next 8 years.

Compound Amount = 6749.28 + 15857.29

= 22606.57

Conclusion:


The deposit of 5000 at 6% compounded quarterly for the first five years and at 8% compounded semi-annually for the next eight years has accumulated to 22606.57 at the end of 13 years.
Community Answer
a person deposited 5000 in a bank. the deposit was left to accumulate ...
If Rate of interest is annual:-
then the Compound Amount at the end of 13 years - 12,613.17
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a person deposited 5000 in a bank. the deposit was left to accumulate at 6%compounded quarterly for the first five years and at 8%compounded semi - annually for the next eight years. the compound amount at the end of 13 years is
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