Jasmine is making quarterly contributions of of $440 to her savings account which pays interest at the APR of 6.6%, compounded quarterly. Right after Jasmine makes her 38th contribution, the bank changes the APR to 4.4% and Jasmine makes 43 more $440 contributions. What is Jasmine's balance right after her last contribution? $

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
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Jasmine is making quarterly contributions of of $440 to her savings account which pays interest at the APR of 6.6%, compounded quarterly. Right after Jasmine makes her 38th contribution, the bank changes the APR to 4.4% and Jasmine makes 43 more $440 contributions. What is Jasmine's balance right after her last contribution?
$

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