Question
A recent high school graduate received $ 800 in gifts of cash from friends and relatives. Inaddition, sheshe received three scholarships in the amounts of
A recent high school graduate received $800 in gifts of cash from friends and relatives. Inaddition, sheshe received three scholarships in the amounts of $450, $600, and $1500. If she takes all her gift and scholarship money and invests it in a 36-month CD paying 4% interest compounded daily(use nequals=360), how much will the graduate have when she cashes in the CD at the end of the 36-months?
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
