Solution-Compounded semi-annually, You earned 8%,

Compounded semi-annually

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Fifteen years ago, you deposited $12,500 into an investment fund.

Five years ago, you added an additional $20,000 to that account. You earned 8%, compounded semi-annually, for the first ten years, and 6.5%, compounded annually, for the last five years.

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Compounded semi-annually

Reference no: EM132524185

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