Mathematics, 15.04.2021 16:30 cici86

3. Mandy made monthly deposits of $300 into a savings account for two years. The account provided her with an interest rate of 3.5% compounded
monthly. She then left her money in the account to grow at 2.5%
compounded quarterly for an additional three years. How much money is in
the account at the end of the five years? (5 marks)
Formulae:
f = (1 + i)" - 1
i
nm Xt
m

Answers: 2

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