$2,000 is deposited today into a bank account. The account earns 4.3% per annum compounded quarterly for...
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Question:
$2,000 is deposited today into a bank account. The account earns 4.3% per annum compounded quarterly for the first 6 years, then 8.6% per annum compounded monthly thereafter. Assuming no further deposits or withdrawals are made,
(a) Calculate the account balance six months from today.
(b) Calculate the account balance 6 years from today.
(c) Calculate the account balance 6.25 years from today.
(d) Calculate the account balance 13 years from today.
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