19. (5 points) Andy deposits X into an account, and then deposits 2X into the account 2 years later. the account earns a 10% effective annual interest rate for the first 3 years, and a nominal interest rate of 5% convertible semi-annually thereafter. At the end of 6 years, the account balance is 200,000. How much interest did Andy earn during the second year? A. 5,111 B. 5,373 C. 5,613 D. 5,678 E. 5,786
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Since the question does not provide any information about the starting number, we cannot determine it directly. However, we can make an assumption that the starting number for the second year is the ending number of the first year. Now, let's look at the Show more…
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