Answer:
The expected amount is $34154.83
Explanation:
Lena invested the amount = $7200
$7200 invested for time period = 6 years
Second amount invested = $7500
$7500 invested for the time period = 5 years.
The expected interest rate = 15.6 %
Total amount = A=P(1+r/400)^4n
A=future value
P=present value
r=rate of interest
n=time period.
Hence
A=7200(1+15.6/400)^(4*6) + 7500(1+15.6/400)^(4*5)
= 18034.5636 + 16120.2664
= $34154.83
