You invested $6,000 in an account 15 years ago. This account paid 3% compounded semiannually for the first 6 years, and then the rate jumped to 9% compounded monthly for the next 4 years, and finally, in the last 5 years, the rate was 12% quarterly. How much do you have today?

Answer rating: 100% (QA)

Step 11 A 1 Effective interest rate for first 6 years ... View the full answer