Jordan invested money in an account that paid interest of 8% per year, compounded semi-annually, for 6 years. At the end of the 6 years, he has a total of $24015.48. a)What was Jordan’s initial investment? b)How much interest was paid? c)What approximate annual interest rate would have been needed for the same present value and future value, if interest had been paid monthly instead of semi-annually?

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