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2 (40 Points) A student plans a one-time deposit of $2,000 in a student savings account at a credit union that pays the highest interest
2 (40 Points) A student plans a one-time deposit of $2,000 in a student savings account at a credit union that pays the highest interest rate. Credit Union A has a plan that guarantees a $2,500 balance after 3 years, and Credit Union B guarantees a $2,685 balance after 4 years. There are no other transactions. Develop an Excel spreadsheet that calculates the interest rate offered by each credit union (to 2 places of decimal) and state which credit union should be selected based on the highest interest rate. (Note: The investment period is not critical, just the highest rate of return). Copy and paste the spreadsheet below and state the approach and the Excel function you used to help you calculate the interest. Credit Union A Credit Union B Deposit $2,000 $2,000 Term (years) 3 4 Uniform Payment $0 $0 Balance $2,500 $2,685
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