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FinanceQ&A LibraryA man deposits $14,000 at the beginning of each year for 14years in an account paying 77% compounded annually. He then puts the total amount on deposit in another account paying 9% compounded semiannually for another 9 years. Find the final amount on deposit after the entire 23 year period.Start your trial now! First week only $4.99!*arrow_forward*

Question

A man deposits

compounded semiannually for another 9

years. Find the final amount on deposit after the entire

$14,000

at the beginning of each year for
14years in an account paying

77%

compounded annually. He then puts the total amount on deposit in another account paying 9%compounded semiannually for another 9

years. Find the final amount on deposit after the entire

23 year period.

(Simplify your answer. Round to the nearest cent as needed.)

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