1. In all parts of this question we have an investment consisting of a principal...
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1. In all parts of this question we have an investment consisting of a principal of $5,852 deposited in account earning 4.16% APR, compounding quarterly, for 9.5 years.
(a) Find the compound amount of the investment. Round your answer down to the nearest dollar.
(b) What is the compound interest of the investment expressed as a percentage of the principal? (Use your answer in Part (a) and give your answer here in Part (b) rounded down to two decimal places).
(c) Find the effective rate of interest for the investment expressed as a percentage rounded down to three decimal places.
(d) What APR compounding daily is equivalent to the interest and compounding for the investment? (Use 365 days in a year. Give your answer as a percentage, rounded up to three decimal places).
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