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Calculate the maturity value of the fund on april

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Reference no: EM132471567

On August 21st, 2013, Joseph invested $13,000 in a fund that was growing at 4% compounded quarterly.

Question a. Calculate the maturity value of the fund on April 6th, 2014.

Question b. On April 6th, 2014, the interest rate on the fund changed to 3% compounded monthly. Calculate the maturity value of the fund on March 29th, 2015.

Reference no: EM132471567

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