Answer:
Total money after 17 years = $14962
Explanation:
Given present value or mount deposited today = $8000
Annual interest rate for 5 years = 3 %
Annual interest rate for 4 years = 3.6 %
Annual interest rate for 8 years = 4.3 %
Now we have to calculate the total amount after 17 years. Below is the calculation.
[tex]Total \ amount = 8000(1 + 0.03)^{5} (1+ 0.036) ^{4} (1+ 0.043 ) ^{8} \\Total \ amount = $14962[/tex]
