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An investment of $4614.13 earns interest at 7.1% per annum compounded for 4 years. At that time the interest rate is changed to 3.7% compounded
An investment of $4614.13 earns interest at 7.1% per annum compounded for 4 years. At that time the interest rate is changed to 3.7% compounded How much will the accumulated value be 2.5 years after the change?
An investment of $4614.13 earns interest at 7.1% per annum compounded quarterly for 4 years. At that time the interest rate is changed to 3.7% compounded annually. How much will the accumulated value be 2.5 years after the change? The accumulated value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Step by Step Solution
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