$1,000 beginning of the quarter deposits will be made into an account for 13 years and 9...
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$1,000 beginning of the quarter deposits will be made into an account for 13 years and 9 months (13.75 years). What was the interest rate compounded semi-annually associated with the account if there was $133,875.87 in the account at the end of the 13.75 years?
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Answer rating: 100% (QA)
To calculate the interest rate compounded semiannually for the account based on the given information we can use the future value formula for an annui... View the full answer
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