Jolene entered an 18-month investment contract that guarantees to pay 2 percent interest at the end of 6
months, another 3 percent interest at the end of 12 months, and 4 percent interest at the end of the 18
month contract. If each interest payment is reinvested in the contract, and Jolene invested $10,000 initially, what will be the total amount of interest paid during the 18-month contract?
A) $506.00
B) $726.24
C) $900.00
D) $920.24
E) $926.24
E
months, another 3 percent interest at the end of 12 months, and 4 percent interest at the end of the 18
month contract. If each interest payment is reinvested in the contract, and Jolene invested $10,000 initially, what will be the total amount of interest paid during the 18-month contract?
A) $506.00
B) $726.24
C) $900.00
D) $920.24
E) $926.24
E
