An investment of $2500 earns interest at 4.5% p.a. compounded monthly for three years. At that time

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An investment of $2500 earns interest at 4.5% p.a. compounded monthly for three years. At that time the interest rate is changed to 5% compounded quarterly. How much will the accumulated value be one-and-a-half years after the change?
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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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