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With regard to compound interest, a sum of $800,000 has been placed in an investment project. Determine the compound amount after 4 years where interest
With regard to compound interest, a sum of $800,000 has been placed in an investment project. Determine the compound amount after 4 years where interest rate is 10% per year compounded: a. semi-annually b. quarterly c. Under which compounding plan semiannually or quarterly, is total interest higher?
With regard to compound interest, a sum of $800,000 has been placed in an investment project. Determine the compound amount after 4 years where interest rate is 10% per year compounded:
a. semi-annually
b. quarterly
c. Under which compounding plan semiannually or quarterly, is total interest higher?
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