A debt of $7000 accumulated interest at 9.5% compounded quarterly for 15 months, after which the rate

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A debt of $7000 accumulated interest at 9.5% compounded quarterly for 15 months, after which the rate changed to 8.5% compounded semiannually for the next six months. What was the total amount owed at the end of the entire 21-month period?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Sep 21, 2024 08:01 AM

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A debt of $7000 accumulated interest at 9.5% compounded quarterly for 15 months, after which the rate

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For the4 first15 months PV 7...View the full answer

Business Mathematics In Canada

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