Investment 2

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

Correct answer:

c =  5436.64 USD

Step-by-step explanation:

a=5000 USD p1=100%+4.7%=1+1004.7=1.047 p2=100%+7.3%=1+1007.3=1.073  q1=p11/12=121.0471.0038 q2=p21/12=121.0731.0059  b=a q15=5000 1.003855096.6067 USD c=b q211=5096.6067 1.005911=5436.64 USD



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