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A) For the last six years Joe has made deposits of $300 at the end of every six months earning interest at 3% compounded semi-annually.

A) For the last six years Joe has made deposits of $300 at the end of every six months earning interest at 3% compounded semi-annually. If he leaves the accumulated balance in an account earning 7% compounded quarterly, what will the balance be in Joe's account at the end of another nine years?

B) Find the future value of the following ordinary simple annuity.

Periodic Payment

Payment Interval

Term

Interest Rate

Conversion Period

$446.00

1 month

8.75

years

10%

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