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Calculate the future value at the end of the twelve year

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A payment of $3,500 was made into an account at the end of every 3 months for 12 years.

Question a. If the interest rate for the first 3 years was 6.00% compounded monthly, calculate the future value at the end of the first 3 years.

Question b. If the interest rate for the next 9 years was 4.00% compounded annually, calculate the future value at the end of the 12 year term.

Reference no: EM132555142

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