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Calculate the accumulated amount in this investment

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Question - An investment with an initial deposit of $9,180 is growing at an interest rate of 3.92% compounded monthly.

1. Find the accumulated amount of the investment at the end of 3 years.

2. The interest rate changes to 4.17% compounded semi-annually after the first 3 years. Calculate the accumulated amount in this investment at the end of 8 years.

3. Find the total amount of interest accumulated during the entire 8 years of the investment.

Reference no: EM133098651

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