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(4 points) On September 17, 2020, Rachel deposits $24000 in a savings account that earns a nominal annual interest rate of 12% compounded semi-annually and
(4 points) On September 17, 2020, Rachel deposits $24000 in a savings account that earns a nominal annual interest rate of 12% compounded semi-annually and $24000 in a savings account that earns an effective annual interest rate of 6%. a) What will the combined balance of Rachel's accounts be on September 17, 2026? Answer $ b) How long will it take for the combined balance of Rachel's accounts to accumulate to $144000? Answer years. Click for a hint (5 points) On January 1, 2010, Adele invested $450000. The following table shows her average annual rate of return over several periods, each ending on January 1, 2020: 1-year 2-year 5-year 10-year 6.1% 2% 5% 6% a) Find the balance of Adele's portfolio on January 1, 2020. Answer = $ b) Find the balance of Adele's portfolio on January 1, 2015. Answer = $ Click for a hint c) Find Adele's average annual rate of return for the 3-year period from January 1, 2015 until January 1, 2018. Answer = %
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