On August 7th, 2013, Joseph invested $12,000 in a fund that was growing at 5% compounded...
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On August 7th, 2013, Joseph invested $12,000 in a fund that was growing at 5% compounded quarterly. a. Calculate the maturity value of the fund on April 4th, 2014. $0.00 Round to the nearest cent b. On April 4th, 2014, the interest rate on the fund changed to 6% compounded monthly. Calculate the maturity value of the fund on April 4th, 2015. $0.00 Round to the nearest cent On August 7th, 2013, Joseph invested $12,000 in a fund that was growing at 5% compounded quarterly. a. Calculate the maturity value of the fund on April 4th, 2014. $0.00 Round to the nearest cent b. On April 4th, 2014, the interest rate on the fund changed to 6% compounded monthly. Calculate the maturity value of the fund on April 4th, 2015. $0.00 Round to the nearest cent
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Number of days 241 Total days in year 364 Days in quarter36549125 Number of ... View the full answer
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0134141084
11th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
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