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An investment of $2053.38 earns interest at 7.7% per annum compounded annually for 2 years. At that time the interest rate is changed to 8.7%
An investment of
$2053.38
earns interest at
7.7%
per annum compounded
annually
for
2
years. At that time the interest rate is changed to
8.7%
compounded
monthly.
How much will the accumulated value be
1.5
years after the change?
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