What will be the accumulated values

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Reference no: EM131307343

1. What rate of compound interest will turn $3,500 into $10,870 in 10 years?

2. If Maria wants to collect $16,750 in 5 years and has an option to deposit an initial amount of $5,000 in an account bearing interest compounded monthly, what rate of interest will help her achieve her goal? 3. If Sev wants to compare the accumulations of a fund with a starting value of $2,800 deposited for 3 years in an account bearing 13¾% interest, what will be the accumulated values if the compounding is (a) annual; (b) semiannual; (c) quarterly; (d) monthly; (e) weekly; (f) daily; (g) continuous?

Reference no: EM131307343

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