Question
On July 21st, 2013, Joe invested $13,000 in a fund that was growing at 4% compounded quarterly. a. Calculate the accumulated amount of the fund
On July 21st, 2013, Joe invested $13,000 in a fund that was growing at 4% compounded quarterly.
a. Calculate the accumulated amount of the fund on March 17th, 2014.
Round to the nearest cent
b. On March 17th, 2014, the interest rate on the fund changed to 7% compounded monthly. Calculate the accumulated amount of the fund on April 2nd, 2015.
Round to the nearest cent
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Glencoe Business And Personal Finance
Authors: McGraw-Hill
1st Edition
0021400202, 9780021400201
