Twenty years ago, you deposited $800 into an account. You earned 6% APR compounded annually for the first 15 years, and then 6% compounded monthly for the last 5 years. How much money do you have in your account today?
Create a timetable for this problem.
How much money do you have today?
Does it matter if the investment pay interest monthly and annaully?
How does the interest differ?