PLEASE SOLVE THIS ONLY IF YOU ARE 100% SURE A UNKNOWN sum of money…

Question Answered step-by-step PLEASE SOLVE THIS ONLY IF YOU ARE 100% SURE A UNKNOWN sum of money… PLEASE SOLVE THIS ONLY IF YOU ARE 100% SURE A UNKNOWN sum of money was invested TODAY at 6% compounded monthly for 2.5 years and at 4% compounded quarterly for another 3.5 years. If there was $134,567.95 in the account in 6 tears from today, what was the original unknown amount invested today? (2 marks)  2. If a sum of money quadrupled (IE grew from $10,000 to $40,000) at 15% compounded semi-annually, how long (in years) would that take?     (2 marks-Find “n”)   FORMULA                          nFV = PV  (1 +i)                                                                     Finding the Future Value (Maturity value) with                                                                                                                                    compound interest         ji =   —-                                                                                 Finding periodic rate of interest        m        n = (number of years) x (m)                                              Finding total number of compound periods        ____FV_______PV =                 n                                                                 Finding the Present Value (Principle Value) with           (1 + i)                                                                         compound interest                  mf = (1 + i)     -1                                                                      Finding the effective rate of interest “f” for a nominal                                                                                 annual rate compounded “m” times per year       Math MATH 1008 Share QuestionEmailCopy link Comments (0)