A deposit of $2000 earns interest at 6% p.a. compounded monthly for four years. At that time,
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A deposit of $2000 earns interest at 6% p.a. compounded monthly for four years. At that time, the interest rate changes to 7% p.a. compounded quarterly. What is the value of the deposit three years after the change in the rate of interest?
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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