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Red Company invested $20,000 in a fund that was earning interest at a rate of 3.00% compounded semi-annually. After 2 years and 9 months, the company transferred these funds to another investment that was earning interest at 5.50% compounded monthly. a. What is the balance in the fund at the end of 2 years and 9 months? $21,706.67 Round to the nearest cent b. What is the balance in the fund at the end of 6 years (from the initial investment)?

Red Company invested $20,000 in a fund that was earning interest at a rate of 3.00% compounded semi-annually. After 2 years and 9 months, the company transferred these funds to another investment that was earning interest at 5.50% compounded monthly. a. What is the balance in the fund at the end of 2 years and 9 months? $21,706.67 Round to the nearest cent b. What is the balance in the fund at the end of 6 years (from the initial investment)?

SWFT Essntl Tax Individ/Bus Entities 2020
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter2: Working With The Tax Law
Section: Chapter Questions
Problem 30P
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Red Company invested $20,000 in a fund that was earning interest at a rate of 3.00% compounded semi-annually. After 2 years and 9 months, the company transferred these funds to another investment that was earning interest at 5.50% compounded monthly.

 

O fap ch 9 v2.0 kc.ppt FOL Vretta - IntroMath - MATH1052 B X m Assignment Accounting discussion #11.docx X b My Questions | bartleby -> A secure.vretta.com/collegelink/#/course-resource/section/11935/assignment/1075/new M V Citation Machine®:. O Microsoft Office Ho. key accounting prin. * Cengage Learning Homepage - Fansh. O Microsoft Office Sc. O MKTG Canadian 4t. >> Law T JV Close Date: Sun, Apr 10, 2022, 11:59 PM Due In: 7 days 23 hours Questions Question 3 of 7 Red Company invested $20,000 in a fund that was earning interest at a rate of 3.00% compounded semi-annually. After 2 years and 9 months, the company transferred these funds to another investment that was earning interest at 5.50% compounded monthly. Question 1 (2) Question 2 (4) Question 3 (4) Question 4 (3) Question 5 (2) a. What is the balance in the fund at the end of 2 years and 9 months? Question 6 (2) $21,706.67| E Question 7 (3) Round to the nearest cent b. What is the balance in the fund at the end of 6 years (from the initial investment)? > O 12:53
Transcribed Image Text:O fap ch 9 v2.0 kc.ppt FOL Vretta - IntroMath - MATH1052 B X m Assignment Accounting discussion #11.docx X b My Questions | bartleby -> A secure.vretta.com/collegelink/#/course-resource/section/11935/assignment/1075/new M V Citation Machine®:. O Microsoft Office Ho. key accounting prin. * Cengage Learning Homepage - Fansh. O Microsoft Office Sc. O MKTG Canadian 4t. >> Law T JV Close Date: Sun, Apr 10, 2022, 11:59 PM Due In: 7 days 23 hours Questions Question 3 of 7 Red Company invested $20,000 in a fund that was earning interest at a rate of 3.00% compounded semi-annually. After 2 years and 9 months, the company transferred these funds to another investment that was earning interest at 5.50% compounded monthly. Question 1 (2) Question 2 (4) Question 3 (4) Question 4 (3) Question 5 (2) a. What is the balance in the fund at the end of 2 years and 9 months? Question 6 (2) $21,706.67| E Question 7 (3) Round to the nearest cent b. What is the balance in the fund at the end of 6 years (from the initial investment)? > O 12:53
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