Question
A payment of $8,500 was made into an account at the end of every 3 months for 12 years. a. If the interest rate
A payment of $8,500 was made into an account at the end of every 3 months for 12 years. a. If the interest rate for the first 5 years was 6.00% compounded monthly, calculate the future value at the end of the first 5 years. $0.00 Round to the nearest cent b. If the interest rate for the next 7 years was 4.00% compounded annually, calculate the future value at the end of the 12 year term. $0.00 Round to the nearest cent
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Fundamentals of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
12th edition
978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359
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