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How much money will the person accumulate

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Question - At the end of every 4 months, a person deposits $115 into an account that pays 5.78% compounded every 4 months. After 5 years, the person transfers the accumulated money into a certificate of deposit paying 8.75% compounded semiannually for 1 year. When this certificate matures, how much money will the person accumulate?

Reference no: EM133057729

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