Hello, We are in the financial math chapter. In early 2000, Nicolas deposited $30,000 in an account that pays 5% compound interest annually. In early 2010, he transferred his savings to another bank, in an account that pays 8% compound interest annually. If he leaves his money in this account, how much will he have on January 1, 2020?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter7: Systems Of Equations And Inequalities
Section7.2: Systems Of Linear Equations: Three Variables
Problem 64SE: You inherit one hundred thousand dollars. You invest it all in three accounts for one year. The...
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Hello, We are in the financial math chapter. In early 2000, Nicolas deposited $30,000 in an account that pays 5% compound interest annually. In early 2010, he transferred his savings to another bank, in an account that pays 8% compound interest annually. If he leaves his money in this account, how much will he have on January 1, 2020?
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