Noah invested $5000 in an investment fund. Determine the accumulated value of his investment at the end

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Noah invested $5000 in an investment fund. Determine the accumulated value of his investment at the end of 8 years if the interest rate was j2 = 6.5% for the first 3 years, j4 = 6.4% for the next 4 years and j365= 6.3% for the last year.

What effective rate, j, did he earn over the 8 years?

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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: Apr 05, 2023 01:34 AM

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Noah invested $5000 in an investment fund. Determine the accumulated value of his investment at the end

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To calculate the accumulated value of Noahs investment after 8 years we need to apply each interest ... View the full answer

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