Investment 2

Jack invested $5000 in a 5-month term deposit at 4.7% p. A. . At the end of the 5-months, jack reinvested the maturity value from the first deposit into an 11-month term deposit at 7.3% p. A. What is the maturity value at the end of the second term deposit?

Correct result:

c =  5436.6436 USD

Solution:

a=5000 q1=1+4.7100121.0038 q2=1+7.3100121.0059  b=a q15=5000 1.003855096.6067 USD c=b q211=5096.6067 1.005911=5436.6436 USD



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