Annuities w/ 2 different compound interests

[Colleen84]

Stuck on this question: Deposits of $1500 are made to an investment fund at the end of each month for 8 years. What will be the accumulated value of the fund if the interest earned is 6% compounded annually for the first half (4 years), and 3% compounded quarterly for the second half of the term?

The answer in the textbook is $167 543.03

I'm off on my answer as I thought you do the formulas for each term and add together but it's not correct.

 

[stapel]

Stuck on this question: Deposits of $1500 are made to an investment fund at the end of each month for 8 years. What will be the accumulated value of the fund if the interest earned is 6% compounded annually for the first half (4 years), and 3% compounded quarterly for the second half of the term?

The answer in the textbook is $167 543.03

I'm off on my answer as I thought you do the formulas for each term and add together but it's not correct.

Please reply showing all of your steps in obtaining your answer. Thank you!

 

[Colleen84]

Please reply showing all of your steps in obtaining your answer. Thank you!

It's an online course so I just have the textbook instructions to go by:

1st term:
j=6% = 0.06
m=1
i=j/m=0.06/1=0.06

12 monthly pymts* 4 years = 48 pymts total

i2=(1+i)^c - 1
=(1+.06)^(1/12) - 1
=0.00486755

FV1= PMT [(1+i2)^n-1/12]
=1500[(1+0.00486755)^48-1/0.00486755

2nd term:
j=3% = 0.03
m=4
i=j/m=0.03/4=0.0075

12 monthly pymts* 4 years = 48 pymts total

i2=(1+i)^c - 1
=(1+.0075)^(4/12) - 1
=0.002493775

FV2= PMT [(1+i2)^n-1/12]
=1500[(1+0.002493775)^48-1/0.002493775
=76385.43842

FV1+FV2 = 80885.74105+76385.43842 = 15727.1795 I'm short $10271.85

I think I'm missing a step in 1st term perhaps?