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Business, 12.02.2021 01:20 sophiee1021

Your grandparents started a savings account in 1999. The first two deposits of $100 were made on January 1, 1999 and July 1, 1999. At that time the savings account was paying 10%, compounded semiannually. On January 1, 2000 the bank increased the interest rate paid on savings accounts to 12%, compounded annually. The third deposit of $100 was made on April 1, 2000. The plan was to take the accumulated savings out on January 1, 2001 and re-invest them in the stock market. How much was available for reinvestment

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