Calculate total combined amount that will be in two funds

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Reference no: EM13727169

On July 1, 2010, Bill invested P into a fund which accumulates at an interest rate of 7% compounded monthly. On July 1, 2012, Judy invested 100 in a fund with a discount rate of 9% compounded quarterly. On July 1, 2010, the sum of the present value sof the two funds is 120. Calculate the total combined amount that will be in the two funds on July 1, 2015.

Reference no: EM13727169

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