A deposit of $2000 earns interest at 3% p.a. compounded quarterly. After two- and-a-half years, the interest

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A deposit of $2000 earns interest at 3% p.a. compounded quarterly. After two- and-a-half years, the interest rate is changed to 2.75% compounded monthly. How much is the account worth after six years?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:47 AM

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A deposit of $2000 earns interest at 3% p.a. compounded quarterly. After two- and-a-half years, the interest

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Balance after 25 years PV 200000 I Y 3 C Y 4 i 34 075 00075 25 410 FV 200000100...View the full answer

Contemporary Business Mathematics with Canadian Applications

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