Question 4: An Investment of $6300.00 earns interest at 11.96% p.a. compounded monthly for five years....

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Question 4: An Investment of $6300.00 earns interest at 11.96% p.a. compounded monthly for five years. At that time the inter

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Answer 1

Answer #1

Investment		6300
Interest		7.00%

Six months	Interest	Accumulated value
		6,300.00
1	220.50	6,520.50
2	228.22	6,748.72
3	236.21	6,984.92
4	244.47	7,229.39
5	253.03	7,482.42

Accumulated value after two and half year is $7482.42

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Answer 2

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