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Cynthia borrowed $46,000 from a local bank at 5% compounded semi-annually to start a business. After 2 years, the interest rate on the debt changed
Cynthia borrowed $46,000 from a local bank at 5% compounded semi-annually to start a business. After 2 years, the interest rate on the debt changed to 4% compounded monthly.
a.What would be the accumulated amount of the debt in 2 years?
PLEASE ROUND TO THE NEAREST CENT
b.What would be the accumulated amount of the debt in 4 years?
PLEASE ROUND TO THE NEAREST CENT
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