What was the effective interest rate and the amount that was invested in a mutual fund for

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What was the effective interest rate and the amount that was invested in a mutual fund for two years that grew to $20,000? The interest rates for the two successive years were 3.6% and 4.2% compounded monthly, respectively.

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Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

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Question Posted: Aug 30, 2024 09:05 AM

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What was the effective interest rate and the amount that was invested in a mutual fund for

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Mathematics Of Business And Finance

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