Juan has two investment accounts. The first had Juan make monthly deposits of $375 per month over 5 years at a rate of 4.4% compounded semi-annually. The second investment required Juan make an initial $5,000 deposit along with $125 quarterly deposits over a 5-year period at a rate of 3.5% compounded monthly. Determine the combined future value of both investments at the end of five years.
A) $35,186.27
B) $34,764.53
C) $34,011.67
D) $33,764.53
E) $33,011.67

Question

Quizplus · Accepted Answer

The Answer of Juan has two investment accounts. The first had Juan make monthly deposits of $375 per month over 5 years at a rate of 4.4% compounded semi-annually. The second investment required Juan make an initial $5,000 deposit along with $125 quarterly deposits over a 5-year period at a rate of 3.5% compounded monthly. Determine the combined future value of both investments at the end of five years.
A) $35,186.27
B) $34,764.53
C) $34,011.67
D) $33,764.53
E) $33,011.67

Juan Has Two Investment Accounts