Question
Ms. Simms made deposits of $540 at the end of every three months into a savings account. For the first five years interest was 5%
Ms. Simms made deposits of $540 at the end of every three months into a savings account. For the first five years interest was 5% compounded quarterly. Since then the rate of interest has been 5.5% compounded quarterly. How much is the account balance after 13 years?
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Financial Accounting
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
4th Edition
0471072419, 978-0471072416
