£15,500 is invested at time t=0 and a further 6,800 at time t=6. Calculate the value of the fund after 21 years if the rates of interest applicable during this period are 1.7% per month effective for the first 11 years, and thereafter 8.7% per annum nominal payable q

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 29P
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£15,500 is invested at time t=0 and a further 6,800 at time t=6. Calculate the value of the fund after 21 years if the rates of interest applicable during this period are 1.7% per month effective for the first 11 years, and thereafter 8.7% per annum nominal payable quarterly for the remaining years

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