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  • Extra Problems 2

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    Bobby Mylan
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    Sandy wins $10,000 and invests it in a 4-year certificate of deposit. At the end of 4 years, He renews his CD for 3 more years at the then current interest rate of 5.25% compounded semi-annually. Determine the value of his investment at the time his second CD matures.

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    Sandy wins $10,000 and invests it in a 4-year certificate of deposit. At the end of 4 years, He renews his CD for 3 more years at the then current interest rate of 5.25% compounded semi-annually. Determine the value of his investment at the time his second CD matures.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    5 views3 pages

    Extra Problems 2

    Uploaded by

    Bobby Mylan
    Sandy wins $10,000 and invests it in a 4-year certificate of deposit. At the end of 4 years, He renews his CD for 3 more years at the then current interest rate of 5.25% compounded semi-annually. Determine the value of his investment at the time his second CD matures.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    1. Sandy wins $10,000. He invests his winnings in a 4-year certicate of deposit earning 5% compounded monthly. At the end of 4 years, Sandy renews his CD for 3 more years at the then current interest rate of 5.25% compounded semi-annually. Determine the value of Sandys investment at the time his second CD matures.

    6LGQH\ ERUURZV  7KH ORDQ LV JRYHUQHG E\ FRPSRXQG LQWHUHVW DQG WKH DQQXDO HIIHFWLYH UDWH RI GLVFRXQW LV   6LGQH\ UHSD\V  DW WKH HQG RI RQH \HDU ; DW WKH HQG RI WZR \HDUV DQG  DW WKH HQG RI WKUHH \HDUV LQ RUGHU WR H[DFWO\ SD\ RII WKH ORDQ )LQG ; &RUUHFW $QVZHU  &RPPHQW
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