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How much interest will daljit have earned

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1. A deposit of $4,500 is made into an account which is earning interest at 4.5% compounded quarterly. After three-and-a-half years the interest rate changes to 4.2% compounded monthly.

a) How much will be in the account 4 years after the interest rate change? You must include a timeline for full marks.

b) How much interest will Daljit have earned on her initial deposit?

Reference no: EM132576872

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