An investment account promises yearly rate of 5,2 % compounded quarterly for the first 3 years and 5,7 % compounded semi-annually for 2 years after that and 6,4 % after that also compounded semi-ann lly. The interest earned on this account is 2 455 after 6 years. What initial amount was placed on the account? What is the future value after 8 years?

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4. An investment account promises yearly rate of 5,2 % compounded quarterly for the first 3 years and 5,7 %
compounded semi-annually for 2 years after that and 6,4 % after that also compounded semi-ann lly. The
interest earned on this account is 2 455 after 6 years. What initial amount was placed on the account? What is
the future value after 8 years?
Transcribed Image Text:4. An investment account promises yearly rate of 5,2 % compounded quarterly for the first 3 years and 5,7 % compounded semi-annually for 2 years after that and 6,4 % after that also compounded semi-ann lly. The interest earned on this account is 2 455 after 6 years. What initial amount was placed on the account? What is the future value after 8 years?
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