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Raymond deposits $1,000 into a bank account. The bank credits interest at an annual nominal rate of i convertible quarterly for the first 8 years
- Raymond deposits $1,000 into a bank account. The bank credits interest at an annual nominal rate of i convertible quarterly for the first 8 years and an annual nominal rate of 1.5i convertible bimonthly thereafter. The amount in his account at the end of 5 years is $1,599. What is the amount in his account at the end of 15 years?
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Numerical Analysis
Authors: Richard L. Burden, J. Douglas Faires
9th edition
538733519, 978-1133169338, 1133169333, 978-0538733519
