A deposit of $8,000 earns interest at 7% p.a. compounded quarterly for four years and five months. At that time, the int
Posted: Wed Jul 06, 2022 11:53 am
A deposit of $8,000 earns interest at 7% p.a. compounded quarterly for four years and five months. At that time, the interest rate changes to 6% p.a. compounded monthly. What is the value of the deposit three years after the change in the rate of interest? *