Stuck on this question: Deposits of $1500 are made to an investment fund at the end of each month for 8 years. What will be the accumulated value of the fund if the interest earned is 6% compounded annually for the first half (4 years), and 3% compounded quarterly for the second half of the term?
The answer in the textbook is $167 543.03
I'm off on my answer as I thought you do the formulas for each term and add together but it's not correct.
The answer in the textbook is $167 543.03
I'm off on my answer as I thought you do the formulas for each term and add together but it's not correct.