waht is the account position at the end of the year

At the beginning of 1995, Ms. Hoa, received a bonus of $2,500. She deposited this sum into a bank account which paid interest at 8 % compounded semiannually for the first four years and then reduced to 6% compounded quarterly. How much was in the account at the end of 2004?
rana207 (Fri 13:50 05/Aug/05)

power of attorney Non Status / Bad Credit - Small Business Banking Account.

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Loosehead		(Fri 16:56 05/Aug/05) I'm assuming semi annually means every 6 months. and the 6% paid quarterly is paid only for one year, ie 4 quarters. so (2500x(1.048))x(1.0154) [** means to the power] = $3631.37 But if this is your homework then you'd better be able to explain the working!
Didwot		(Fri 19:38 05/Aug/05) You obviously have access to a computer. You probably have a spreadsheet programme. It is a very simple task to set up the spreadsheet to do the calculations, adding back the interest at the appropriate dates, but for your long term benefit I am not going to tell you how to do it. Just give it a go and tell us what the answer is
Loosehead		(Fri 21:59 05/Aug/05) err Didwot, is my post invisible to you??!

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