Question
You invest $15,000 today at 6.6% annual rate that is compounded semiannually. after 12 years the interest rate increases to an 8% rate compounded quartly.
You invest $15,000 today at 6.6% annual rate that is compounded semiannually. after 12 years the interest rate increases to an 8% rate compounded quartly. what is investment worth in 24 years?
Please show the work.
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Basic Finance An Introduction to Financial Institutions Investments and Management
Authors: Herbert B. Mayo
10th edition
1111820635, 978-1111820633
