Melanie receives an annuity paying 1000 at the end of each


Melanie receives an annuity paying $1,000 at the end of each month for eight years. This is directly deposited to a fund paying interest at an annual effective rate of 7.28%. Interest is paid out at the end of each year to a fund with an annual yield of 4%. Both funds are liquidated at the end of ten years. Find the total amount of Melanie's liquidation from the two funds.

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Financial Management: Melanie receives an annuity paying 1000 at the end of each
Reference No:- TGS01710514

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