How much will be in each fund immediately before deposit

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Reference no: EM131813445

You make deposits of $2,500 in an investment fund on July 1 of even-numbered years: you make deposits of $1,500 in another investment fund on July 1 of odd-numbered years. The first investment fund (even- numbered-year deposits) earns 4% annual compound interest, the second investment fund earns 5% annual compound interest. If your first deposit occurs on July 1, 2018, how much will be in each fund immediately before the deposit on July 1, 2024?

Reference no: EM131813445

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