1. ## John deposits

John deposits 13.000 usd in the bank. The annual rate is 13% the first year, 14% in the second and third year and 12% the forth and fifth year.
How much money will he have in the bank in 5 years?

2. Originally Posted by hemmisis
John deposits 13.000 usd in the bank. The annual rate is 13% the first year, 14% in the second and third year and 12% the forth and fifth year.
How much money will he have in the bank in 5 years?
$13(1.13)+13(1.13)(1.14)+13(1.13)(1.14)^2+13(1.13)( 1.14)^2(1.12)+13(1.13)(1.14)^2(1.12)^2$ $=13[(1.13)+(1.13)(1.14)+(1.13)(1.14)^2+(1.13)(1.14)^2( 1.12)+(1.13)(1.14)^2(1.12)^2]=\cdots$

3. 13 * 1.13 * 1.14^2 * 1.12^2