Tim deposits $2100 into a savings account with an annual rate of 2.62% compounded annually for 10 years. He then withdraws this

Question

Tim deposits $2100 into a savings account with an annual rate of 2.62% compounded annually for 10 years. He then withdraws this money and places it in another bank account at the rate of 3.58% compounded bi-weekly for 5 years. Once it is in this new account he also starts making regular deposits of $50 at the end of each month.
a. What is the future value after all 15 years?
b. How much interest was made in total?

Kunduz · Accepted Answer

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