Originally Posted by
mathlovet Find the accumulated value of 2480 at the end of twelve years, if the nominal interest rate was 2% convertible monthly for the first three years, the nominal rate of discount was 3% convertible semi-annually for the next two years, the nominal rate of interest was 4.2% convertible once every two years for the next four years, and the annual effective rate of discount was 5.8% for the last three years.
i did:
[2480(1+0.02/12)^36][1-0.03/2]^-4[1+0.042]^2[1-0.058]^-3= 3633.50
im am not sure if i got the right answer, could anyone please check and explain my mistake to me if i have one. thank you.