A company deposited $5,500 into an investment fund at the beginning of every quarter for 4 years. It then stopped making deposits into the fund and allowed the investment to grow for 5 more years. The...


A company deposited $5,500 into an investment fund at the beginning of every<br>quarter for 4 years. It then stopped making deposits into the fund and allowed the<br>investment to grow for 5 more years. The fund was growing at 4.50% compounded<br>monthly.<br>a. What was the accumulated value of the fund at the end of 4 years ?<br>Round to the nearest cent<br>b. What was the accumulated value of the fund at the end of 9 years ?<br>b. What was the accumulated value of the fund at the end of 9 years ?<br>Round to the nearest cent<br>c. What was the amount of interest earned over the 9-year period?<br>Round to the nearest cent<br>

Extracted text: A company deposited $5,500 into an investment fund at the beginning of every quarter for 4 years. It then stopped making deposits into the fund and allowed the investment to grow for 5 more years. The fund was growing at 4.50% compounded monthly. a. What was the accumulated value of the fund at the end of 4 years ? Round to the nearest cent b. What was the accumulated value of the fund at the end of 9 years ? b. What was the accumulated value of the fund at the end of 9 years ? Round to the nearest cent c. What was the amount of interest earned over the 9-year period? Round to the nearest cent

Jun 05, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here