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1. You are considering investing $10,000 in a 5-year CD. a. Bank X offers a nominal rate of 6.00% compounded annually. How much will be

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1. You are considering investing $10,000 in a 5-year CD. a. Bank X offers a nominal rate of 6.00% compounded annually. How much will be saved in the account at the end of the 5-year period? What is the periodic rate and the effective rate earned on the account? b. Bank Y offers a nominal rate of 6.00% compounded quarterly. How much will be in saved in the account at the end of the 5-year period? What is the periodic rate and the effective annual rate earned on the account? C. Bank Z also offers a nominal rate of 6.00% but compounded monthly. How much will be saved in the account at the end of the 5 years? What is the periodic rate and the effective annual rate earned on the account

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