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An investment of $16,000 was growing at 5.25% compounded quarterly. a. Calculate the maturity value of this investment at the end of year 1. Round

image text in transcribed An investment of $16,000 was growing at 5.25% compounded quarterly. a. Calculate the maturity value of this investment at the end of year 1. Round to the nearest cent b. If the interest rate changed to 5.75% compounded monthly at the end of year 1 , calculate the maturity value of this investment at the end of year 4 . Round to the nearest cent c. Calculate the amount of interest earned from this investment during the 4year period. (round answer to the nearest cent)

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