Question
An investment of $2500 earns interest at 4.5% p.a. compounded monthly for three years. At that time the interest rate is changed to 5% p.a.
An investment of $2500 earns interest at 4.5% p.a. compounded
monthly for three years. At that time the interest rate is changed to
5% p.a. compounded quarterly. How much will the accumulated value
be one-and-a-half years after the change?
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Cost Accounting
Authors: Edward B. Deakin, Michael Maher
3rd Edition
0256069190, 978-0256069198
