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Salmon Company, a successful recruitment agency in Montreal, loaned $26,000 to one of its partners for 9 years. The interest rate charged for the first
Salmon Company, a successful recruitment agency in Montreal, loaned $26,000 to one of its partners for 9 years. The interest rate charged for the first 4 years was 3% compounded quarterly and 3.3% compounded semi-annually for the next 5 years. a. Calculate the accumulated value of the loan at the end of the first 4 years. $0.00 Round to the nearest cent b. How much should the partner have repaid Salmon Company by the end of 9 years? $0.00 Round to the nearest cent
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