When Louis Martin was born, her father deposited $2000 in a savings account in her name at a savings and loan association (S&L). At the time, the S&L paid 6% interest compounded semi annually. After 10 years, the S&L changed to a rate of 6% compounded quarterly. What was the value of the account after 18 years when the money was withdrawn to help pay for her college expenses

FV= $5,812.85

Explanation:

To calculate the future value, we need to use the following formula:

FV= PV*(1+i)^n

First investment:

PV= 2,000

i= 0.06/2= 0.03

n= 10*2= 20

FV= 2,000*(1.03^20)

FV= $3,612.22

Second investment:

PV= 3,612.22

i= 0.06/4= 0.015

n= 8*4= 32

FV= 3,612.22*(1.015^32)

FV= $5,812.85

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.