college question: On january 1, 1993, $18,597 was deposited on into an account that earned 7.12% interest compounded monthly. On january 1, 1999, $250 was withdrawn from the account and the bank changed the interst rate to 4.89% compounded monthly. On january 1, 2006, $1900 was deposited into the account and the interst rate was lowered to 3.15% compounded monthly. If no other deposits, withdrawls or rate changes occur, determine how much money should be in the account on January 1, 2011? Use the TVM solver to help you solve this problem. Show all the steps needed to solve this problem.

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anonymous · Answer

cool. any answer before we start working on this?

anonymous · Answer

I got 42084,3.

anonymous · Answer

Try this: ((((18,597*(1+0.12/12)^(12*6))-250)*(1+0.0489/12)^(12*7))+1900)*(1+0.0315/12)^(12*5) why on earth do we need to use the TVM if it ain't no annuity?