An investment of $15,785 is accumulated at 6.5% compounded quarterly for 5 years. At that time the interest rate is changed to 4.3% compounded monthly. How much is the investment worth after 10 years? Answer to the nearest cent.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
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An investment of $15,785 is accumulated at 6.5% compounded quarterly for 5 years. At that time the interest rate is changed to 4.3% compounded monthly. How much is the investment worth after 10 years? Answer to the nearest cent.

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