Example 3 For the last 6 years Joe has made deposits of $300 at the end of every 6 months earning interest at 5% compounded semi-annually. If he leaves the accumulated balance in an account earning 6% compounded quarterly, what will the balance be in Joe's account at the end of another 10 years?

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A: The solution is shown below-

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A: Since parabola is open down word, parabola is of type y=-x2

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A: I have appended the formula used in the solution part of the question

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A: Detailed solution will be given below

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