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Example 5 - 1 Converting APR into an effective interest rate A firm invests $ 8 0 , 0 0 0 for six years in

Example 5-1 Converting APR into an effective interest rate
A firm invests $80,000 for six years in an account that pays interest at the rate of 12% per annum.
How much money will the firm receive under each of the following scenarios?
Interest is compounded annually.
Interest is compounded semi-annually.
Interest is compounded quarterlv.
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