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Eddy deposits $2,000 into a savings account. The bank credits interest at a rate of convertible yearly for the first 4 years and a nominal
Eddy deposits $2,000 into a savings account. The bank credits interest at a rate of convertible yearly for the first 4 years and a nominal rate of convertible quarterly thereafter. If the accumulated value of the account is $2,918.70 after 6 years, find the accumulated value of the account after 8.5 years.
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