Question
Your friend, soon after graduating from university, started investing by depositing $1304 at the end of every month for 9 years, earning interest of 10.6%
Your friend, soon after graduating from university, started investing by depositing $1304 at the end of every month for 9 years, earning interest of 10.6% compounded monthly. At the end of the 9 years, the interest rate changed to 17.9% compounded quarterly and the payment changed to $2669 per quarter for another 3 years. How much will be in the account at the end of the 9 + 3 years?
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Financial Accounting A Critical Approach
Authors: John Friedlan
3rd Edition
0070967601, 978-0070967601
