Question
Anika deposited $55,000 in an investment fund that was growing at a rate of 4.50% compounded quarterly, for a period of 4 years and 6
Anika deposited $55,000 in an investment fund that was growing at a rate of 4.50% compounded quarterly, for a period of 4 years and 6 months.
a. What is the accumulated value of the investment at the end of 4 years and 6 months?
b. What is the amount of interest earned from this investment?
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
25th Edition
1260247988, 978-1260247985
