What monthly compounded rate of interest did earn

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problem 1: Nick invested $6,000 for 3 years at an interest rate of 2.5% compounded semi-annually and then at an interest rate of 3% compounded quarterly for 3.5 years. How much interest did the investment earn over the 6.5 years?

problem 2: Cameron invested $11,500 in a 3 year compound interest GIC with a maturity value of $13,761.83. What monthly compounded rate of interest did it earn?

Reference no: EM132783151

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