00:02
15 ,000 has invested annually for four years.
00:06
The interest rate for the first two years is 9 % compounded annually, and the interest rate is decreased to 8 % compounded annually for the remaining period.
00:13
Calculate the balance in the account at the end of two years, and then calculate the balance in the count at the end of four years.
00:21
So the balance at the end of two years is an initial amount 15 ,000 times one plus the rate, 0 .09 9 % as a decimal 0 .09.
00:39
Divided by the number of times a compound in a year, but that's just one.
00:44
To the number of times a compound in a year, which is 1 times the number of years, which is 2.
00:50
Okay, so it's going to be 18 ,000 times 1 .09 15 ,000, 1 .09...