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An investment of $4692.42 earns interest at 5.6% per annum compounded annually for 2 years. At that time the interest rate is changed to 19.8%
An investment of
$4692.42
earns interest at
5.6%
per annum compounded
annually
for
2
years. At that time the interest rate is changed to
19.8%
compounded
monthly.
How much will the accumulated value be
3.5
years after the change?
The accumulated value is
$enter your response here.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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