If a principal amount of $ 1 , 0 0 0 earns 6 % per year compounded

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Question:

If a principal amount of $

1, 000

earns

6 %

per year compounded annually in the first

2

years and

3 %

in the last

2

years, how much will you have total at the end of year

4 ?

Related Book For answer-question

McGraw-Hill Education SAT 2017

ISBN: 9781259641657

1st Edition

Authors: Christopher Black, Mark Anestis

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Posted Date: Feb 22, 2024 06:40 AM

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If a principal amount of $ 1 , 0 0 0 earns 6 % per year compounded

Question:

Expert Answer:

Heres how to calculate the total amount at the end of year 4 Formula We can use the compound ... View the full answer

McGraw-Hill Education SAT 2017

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