Answered: Liza deposited RM X into an account…

Liza deposited RM X into an account that paid an interest of 5% compounded monthly.After 2 years, the accumulated amount was RM28,347.27. Calculate the value of X. (RM25,655)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 15E

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2. Liza deposited RM X into an account that paid an interest of 5% compounded monthly.After 2 years, the accumulated amount was RM28,347.27. Calculate the value of X. (RM25,655) 3.Three years ago,Johnson deposited RM6,700 into an account that paid an interest rate of 6% compounded quarterly. Calculate the interest earned.（RM1314.64)

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