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A company deposited $5,000 into an investment fund at the beginning of every quarter for 6 years. It then stopped making deposits into the fund
A company deposited $5,000 into an investment fund at the beginning of every quarter for 6 years. It then stopped making deposits into the fund and allowed the investment to grow for 5 more years. The fund was growing at 3.50% compounded monthly. a. What was the accumulated value of the fund at the end of 6 years ? Round to the nearest cent b. What was the accumulated value of the fund at the end of 11 years? c. What was the amount of interest earned over the 11 -year period? Round to the nearest cent
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