Question
Thomas deposited $65,000 in an investment fund that was growing at a rate of 2.50% compounded quarterly, for a period of 4 years and 9
Thomas deposited $65,000 in an investment fund that was growing at a rate of 2.50% compounded quarterly, for a period of 4 years and 9 months.
a. What is the accumulated value of the investment at the end of 4 years and 9 months?
Round to the nearest cent
b. What is the amount of interest earned from this investment?
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International financial management
Authors: Jeff Madura
12th edition
1133947832, 978-1305195011, 978-1133947837
