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12. A deposit of $5500 earns interest at 7% p.a. compounded monthly for four years. At that time, the interest rate changes to 9% p.a.

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12. A deposit of $5500 earns interest at 7% p.a. compounded monthly for four years. At that time, the interest rate changes to 9% p.a. compounded quarterly. What is the value of the deposit three years after the change in the rate of the interest? 13. In how many years will $3500 grow to $10440 at 8% compounded semi-annually

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