Nicko Kevin R.

asked • 05/31/22

The maturity value of a savings account that belonged to Peach Company was $50,033.50.

The maturity value of a savings account that belonged to Peach Company was $50,033.50. The interest charged for the first 5 years was 5% compounded semi-annually, and 3% compounded quarterly for the next 4 years.


a. Calculate the amount that was deposited in the savings account at the beginning of the period.


Round to the nearest cent


b. Calculate the total amount of interest earned from this investment.


Round to the nearest cent


1 Expert Answer

By:

Doug C. answered • 08/25/22

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