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Calculate the accumulated value of the loan

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Reference no: EM131168530

Math question:

Cody received a loan of $45,750, 4 years ago. The interest rate charged on the loan was 4.92% compounded quarterly for the first 6 months, 5.10% compounded semi-annually for the next 2 years, and 5.88% compounded monthly thereafter.

a. Calculate the accumulated value of the loan at the end of the first 6 months.

b. Calculate the accumulated value of the loan at the end of the next 2 year period.

c. Calculate the accumulated value of the loan today.

d. Calculate the amount of interest charged on this loan over the past 4 years.

Reference no: EM131168530

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