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Calculate the accumulated value of the investment

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Problem 1: If Jessica deposited $3,000 in an investment fund that was earning 5.5% compounded semi-annually for a period of 3 years, calculate the accumulated value of the investment and the interest earned during the period.

Problem 2: The interest rate on a Guaranteed Investment Certificate (GIC) is 4.5% compounded daily. What was the purchase price if it has a maturity value of $37,290 in 300 days?

Reference no: EM132908845

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