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Calculate the total amount of interest earned

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Question - The maturity value of a savings account that belonged to Peach Company was $31,123.50. The interest charged for the first 4 years was 4% compounded semi-annually, and 3% compounded quarterly for the next 4 years.

Required -

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: EM133180977

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