Question
Answer all of these questions with the right question number next to the correct choice. ANSWER ALL OR NONE 1-A bank offers 2.5% on a
Answer all of these questions with the right question number next to the correct choice. ANSWER ALL OR NONE
1-A bank offers 2.5% on a $10,000 continuously compounded retail CD for 2 years. How much will you have accumulated when the CD matures? ?
A)$10,512.71
B)$10,515.16
C)$10,083.07
D)$10,506.25
2-How much do you need to deposit in the bank today at 7.7% compounded monthly to have $5,206 in 3 years?
3-At 7% compounded monthly, how many years will it take for $1,000 to triple? Round your answer to the nearest year.
A)16 years
B)189 years
C)10 years
D)9 years
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