An investment of $2500 earns interest at 4.5% p.a. compounded monthly for three years. At that time
Question:
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?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Balanceafter 3 years PV 250000 I Y 45 C Y 12 i 4512 0375 000375 n 3 12 36 FV 25000...View the full answer
Answered By
Mary Boke
As an online tutor with over seven years of experience and a PhD in Education, I have had the opportunity to work with a wide range of students from diverse backgrounds. My experience in education has allowed me to develop a deep understanding of how students learn and the various approaches that can be used to facilitate their learning. I believe in creating a positive and inclusive learning environment that encourages students to ask questions and engage with the material. I work closely with my students to understand their individual learning styles, strengths, and challenges to tailor my approach accordingly. I also place a strong emphasis on building strong relationships with my students, which fosters trust and creates a supportive learning environment. Overall, my goal as an online tutor is to help students achieve their academic goals and develop a lifelong love of learning. I believe that education is a transformative experience that has the power to change lives, and I am committed to helping my students realize their full potential.