Question 1192860
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            The solution by other tutor is not quite accurate.

            I came to bring a correct solution.



<pre>
Starting value: {{{53300}}}


After 4 years at 3.4% compounded quarterly: {{{53300*(1+.034/4)^(4*4)}}}


After the additional 8 years at 6.4% compounded monthly the final value is 

    {{{53300*(1+.034/4)^(4*4)*(1+.064/12)^(8*12)}}} = 101697.33  dollars.    <U>ANSWER to question (a)</U>


The interest earned is the final value minus the original $53,300, i.e. 

    101697.33 - 53000 = 48697.33.                                  <U>ANSWER to question (b)</U>
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Solved.