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Hillier Hillier
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Posts: 550
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6 years ago
For the last four years Joe Thiesman has made deposits of $300.00 at the end of every six months earning interest at 5.7% compounded semi-annually. If he leaves the accumulated balance for another ten years at 3.2% compounded quarterly, what will the balance be in Joe's account?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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Replies
wrote...
6 years ago
FVn = 300.00  = 300.00(8.8451439) = $2653.54
FV = 2653.54(1.008)40 = 2653.54(1.3753755) = $3649.61
Hillier Author
wrote...
6 years ago
Helpful!
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