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Estimate the accumulated value if the interest rate changed

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Reference no: EM132990712

Problem 1: RM200 was saved every month for four years in an account that pays 6% compounded monthly. Estimate the accumulated value if the interest rate changed to 8% monthly after one year.

(a) RM9 240.92

(b) RM11 240.92

(c) RM12 240.92

(d) RM10 240.92

Reference no: EM132990712

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