Essay
An investment of $5000.00 earns interest at 6% p.a. compounded monthly for two years. At that time the interest rate is changed to 8% compounded semi-annually. How much will the accumulated value be three and a half years after the change?
Correct Answer:
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Balance after 2 years:
PV = 5000.00; m =...View Answer
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Correct Answer:
Verified
PV = 5000.00; m =...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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