Determine the proceeds of three years and three months

Reference no: EM132758655

Problem 1: An investment of $5000.00 earns interest at 6% p.a. compounded monthly for two years. At that time the interest rate is changed to 8% compounded semi-annually. How much will the accumulated value be three and a half years after the change?

Problem 2: Determine the proceeds of $19 000 three years and three months before the due date if interest is 7.6% compounded semi-annually.

Reference no: EM132758655

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