Policy on how interest rates

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Reference no: EM13252137

Your bank is changing its policy on how interest rates are going to be calculated although it will remain at 9 APR. For the next 2 years, interest will be compounded daily but after this it will be compounded continuously. How much will be accumulated in your account at the end of 4 years if you deposit $400 today, $250 in 12 months, $100 in 24 months, $100 in 36 months, and $250 in 48 months.

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Reference no: EM13252137

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