A deposit of $7,000 earns interest at 7% p.a. compounded quarterly for four years and five months. At that time, the int
Posted: Wed Jul 06, 2022 11:51 am
A deposit of $7,000 earns interest at 7% p.a. compoundedquarterly for four years and five months. At that time, theinterest rate changes to 6% p.a. compounded monthly. What is thevalue of the deposit three years after the change in the rate ofinterest?
$13,006.97
$9,755.23
None of the answers is correct
$14,632.85
$11,381.10
$16,258.72
$13,006.97
$9,755.23
None of the answers is correct
$14,632.85
$11,381.10
$16,258.72