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    Contemporary Business Mathematics Study Set 1
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    Exam 9: Compound Interest - Future Value and Present Value
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    Accumulated $1720
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Accumulated $1720

Question 113

Question 113

Essay

Accumulated $1720.00 at 8.4% p.a. compounded monthly from March 1, 2011, to July 1, 2013, and thereafter at 8.88% p.a. compounded quarterly. What is the amount on April 1, 2015?

Correct Answer:

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Balance July 1, 2013:
PV = 1720.00; m = ...

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