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An investment of $17,000 was growing at 3.5% compounded quarterly. a. Calculate the accumulated value of this investment at the end of year 1. b.

An investment of $17,000 was growing at 3.5% compounded quarterly.

a. Calculate the accumulated value of this investment at the end of year 1.

b. If the interest rate changed to 3.75% compounded monthly at the end of year 1, calculate the accumulated value of this investment at the end of year 4.

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