What is the amount at the end of the year
Question: If the principal is $2000 and the interest rate is 10% compounded semi- annually for the first 4 years and 12% compounded semi-annually for the next 5 years, what is the amount at the end of the ninth year?
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Determine the outstanding principal at the end of the 5 year term. What is the remaining amortization period on this mortgage?
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What is the amount at the end of the ninth year?
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