RM600 is invested for 4 years 10 months. This investment is offered an interest rate of 9% compounded every three months for the first 2 years and 7% compounded monthly for the rest of the period. Calculate a)the amount at the end of the investment period.(RM873.66) b) the interest earned.(RM273.66)

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 18E
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1. RM600 is invested for 4 years 10 months. This investment is offered an interest rate of 9% compounded every three months for the first 2 years and 7% compounded monthly for the rest of the period. Calculate a)the amount at the end of the investment period.(RM873.66) b) the interest earned.(RM273.66)
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