A company deposited $11,000 into an investment fund at the beginning of every quarter for...
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Finance
A company deposited $11,000 into an investment fund at the beginning of every quarter for 6 years. It then stopped making deposits into the fund and allowed the investment to grow for 5 more years. The fund was growing at 4.75% compounded monthly.
a. What was the accumulated value of the fund at the end of 6 years ?
Round to the nearest cent
b. What was the accumulated value of the fund at the end of 11 years ?
Round to the nearest cent
c. What was the amount of interest earned over the 11-year period?
Round to the nearest cent
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