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Calculate the amount that was deposited in savings account

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Question - The maturity value of a savings account that belonged to Peach Company was $29,923.50. The interest charged for the first 4 years was 6% compounded semi-annually, and 6% compounded quarterly for the next 3 years.

a. Calculate the amount that was deposited in the savings account at the beginning of the period.

b. Calculate the total amount of interest earned from this investment.

Reference no: EM132946160

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